Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Binance, one of the world’s largest cryptocurrency exchanges, has confirmed that the recent failed withdrawals were a result of temporarily suspended EUR transactions through SEPA. In a deleted customer service message, Binance apologized to its users for the inconvenience and stated that it was working to resolve the issue as soon as possible. SEPA, is a payment integration initiative of the European Union that enables electronic bank transfers across 36 participating countries. It is unclear as to what caused the temporary suspension, but it is likely due to the strict regulations imposed by the EU on cryptocurrency-related transactions.
