Zinger Key Points
- External payment provider's decision has affected transactions.
- The exchange is seeking alternative provider for AUD operations.
- Today's manic market swings are creating the perfect setup for Matt’s next volatility trade. Get his next trade alert for free, right here.
Binance Australia will halt certain Australian dollar deposit services due to an external payment provider's decision.
Customers should expect a disruption in bank transfer withdrawals, though the extent of the impact is yet to be determined.
"We are working tirelessly to secure an alternative provider to continue offering AUD deposits and withdrawals to our users," the company said Thursday.
Last month, the Australian Securities and Investments Commission withdrew Binance’s license for its derivatives operations in the country.
See Also: US Bitcoin Corp To Power Up BTC Mining With 150,000 Rigs
The regulator is currently conducting a comprehensive review of Binance's local activities.
Meanwhile, Binance and its U.S. subsidiary are facing a series of investigations. The U.S. Commodity Futures Trading Commission has brought a lawsuit against Binance and its CEO, Changpeng Zhao, alleging that the firm violated derivatives regulations and maintained insufficient compliance procedures.
Binance labeled the investigation as "unexpected and disappointing."
Next: Zero-Knowledge Startup Lagrange Labs Raises $4M To Tackle Blockchain Interoperability
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
