your understanding and support.”What This Means For YouBinance, the world’s largest crypto exchange, has announced that it will be halting all transfers of US dollars starting Wednesday.
This means that if you are using Binance to buy or sell any other cryptocurrencies, you will be unable to do so using USD. However, all other methods of buying and selling crypto remain unaffected.Binance’s CEO, Changpeng Zhao, also known as CZ, took to Twitter to explain the situation.
He said that although just 0.01% of active users engage in US dollar trades, they appreciate the understanding and support of their users.
So what does this mean for you? If you are using Binance to buy or sell cryptocurrencies, you will need to find an alternative way to do so until the suspension of USD transfers is lifted.