Binance confirms card withdrawal disruptions, advises alternative methods By Investing.com

Cryptocurrency exchange Binance has confirmed ongoing issues with card withdrawals, particularly affecting Visa (NYSE:) transactions for euros and the stablecoin USDT. Following a series of undisclosed charges by the Department of Justice that resulted in guilty pleas from Binance and its CEO, Changpeng Zhao (CZ), the platform was hit with a $4.4 billion fine since last Friday. The financial penalties have led to severed ties with some of Binance’s financial partners, which in turn caused the withdrawal problems customers are currently facing.

Binance’s customer support team has been actively responding to user concerns today, acknowledging the service interruptions and suggesting that clients use alternative withdrawal methods. The company is actively working on resolving the situation, but no clear timeline has been provided for when normal services will resume.

The hefty fine imposed on Binance and CZ indicates a significant crackdown on compliance issues within the cryptocurrency industry. This development underscores the heightened scrutiny that crypto exchanges are facing from regulatory bodies worldwide. As Binance navigates through these challenges, customers are advised to stay informed about updates and alternative options for their transaction needs.

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