BUSD

Binance Australia has been facing an unexpected disconnection from the local banking system without getting any prior notice or consultation for such action. Ben Rose, the head of the exchange, stated that they were given a mere 12-hour notice before being cut off from the banking system.The suspension of Australian dollar services by Binance Australia on May 18, 2023, <a href="https://www.binance.com/en-IN/feed/post/537076" rel="noopener noreferrer nofollow">occurred</a> amidst increased regulatory scrutiny on crypto exchanges. This suspension came into effect after their payment provider, Zepto, was instructed by Cuscal, Zepto&#39;s partner payments and banking provider, to cease support for Binance. A Cuscal spokesperson declined to comment on this step but hinted that it is related to crypto-related scams and fraud.The sudden disconnection from Cuscal raised concerns as the Australian crypto industry has heavily relied on crypto-friendly payment providers like Zai, Monoova, and Zepto, all of which are partnered with Cuscal to access the local banking system. It remains unclear how Binance Australia would proceed, as it is uncertain which alternative third-party payment provider they could turn to in such a scenario.Read full article at<a href="https://cryptotale.org/binance-australia-faces-abrupt-cut-off-from-local-banking-system/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Binance Australia Faces Abrupt Cut-Off from Local Banking System

CryptoTale

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