(Reuters) -Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe’s key payments networks, the Financial Times reported on Tuesday, citing an email sent to users by the exchange.
It said that from 8 a.m. universal coordinated time on Wednesday, customers would no longer be able to deposit funds through the Single Euro Payments Area, or Sepa, schemes, according to the newspaper. The move was due to “events beyond our control”, the exchange said in the email cited by the FT https://on.ft.com/36eLSLS.
The network, which is a European Union project that aims to harmonise euro payments across the region, allows consumers to send euros across three dozen countries, the report said. Binance typically accesses Sepa through payment intermediaries.
Binance did not immediately respond to a request for comment on Tuesday. The company has recently faced a string of crackdowns on the platform by regulators globally.
Thailand’s financial watchdog filed a criminal complaint against the cryptocurrency exchange on Friday for operating a digital asset business without a licence, and Britain’s financial watchdog recently barred the company from carrying out regulated activities in the country.
Japan’s regulator said last month that Binance was operating in the country illegally. Germany’s watchdog said in April it risked being fined for offering tokens connected to stocks.
(Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler and Sonya Hepinstall)
