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Binance Cuts Ties with 17 Crypto Providers Amidst Regulatory Uncertainty
24 Aug
Summary
- Binance has halted transactions with 17 crypto service providers.
- Restrictions impact platforms operating in Nigeria, Iran, and UAE.
- The exchange cited regulatory developments for the swift decision.
Binance has initiated significant restrictions, halting transactions with 17 cryptocurrency-asset service providers and platforms. These measures are being implemented in phases, with some effective as of August 13 and others expected by August 23.
The decision stems from recent regulatory developments, although Binance has not disclosed specific details regarding these. Affected entities operate across multiple countries, including Nigeria, Zimbabwe, the UAE, Iran, Georgia, El Salvador, Belarus, the UK, and broader Europe.
Examples of impacted providers include A7 Nigeria, PilotFinance Ltd., Shelbit, Aban Tether Exchange, Rapira, Aifory Pro, ABCeX, WhiteBird, Tradex, NoOnecrypto INC., Monease Ltd, BitPapa, Exnode, HTX, and EXMO Ltd.
Binance has warned users against transacting with these entities post-restriction dates. Any attempted transactions may be subject to compliance reviews, potentially leading to held funds or breaches of Binance's terms of use. The exchange emphasizes its adherence to jurisdictional regulatory requirements to ensure user safety and asset security.
