Binance urges users to convert Euros to USDT after Paysafe debank

On Sept. 27, Cointelegraph reported that Binance France recommended its clients instantly convert all their fiat holdings into crypto.Related: Binance limits withdrawals in Europe, mentions payment processor issuesThe move is the most recent to contribute to Binances debanking and regulatory issues in the West.Paysafe also pulled assistance for transactions in British pounds in May following issues raised by United Kingdom financial regulators over the partnership.In June, Binance announced its departure from the Netherlands, and within a week, authorities in Belgium bought the exchange to halt its services. Nevertheless, on Sept. 26, it was announced that new registrations from Belgian citizens had reopened.Magazine: Binance.US scores against SEC, Mt. Gox hold-up payments, and other news: Hodlers Digest, Sept. 17– 23.

Crypto exchange Binance has urged users to convert their euros into Tether (USDT) before the end of October after losing the assistance of its banking partner.On Sept. 28, Binance urged European Paysafe users to transform their EUR balances in their Binance accounts to USDT before Oct. 31, keeping in mind that Paysafe has “unilaterally chosen to stop processing EUR deposits for Binance users.” Binance, nevertheless, noted that users may continue to withdraw their EUR balances from Binance accounts to their bank accounts. Binance Convert, which operates like a token swap, will likewise be limited for EUR transactions.Screenshot of the Binance statement for Paysafe users.