Binance Reopens EUR and GBP Bank Transfer In Europe Through SEPA and Faster Payment

According to the announcement made today, European users of Binance, excluding those in Switzerland and the Netherlands, will now be able to make deposits and withdrawals in both Euros and British pounds starting on Monday, March 7th, using the Single Euro Payment Area (SEPA) and Faster Payment Services (FPS) rails on both the desktop and mobile platforms. Individuals in Europe will be able to transfer euros and pounds using their bank accounts thanks to SEPA and FPS. However, at this moment, support for corporate and business accounts is not available. Celebrating With Zero Deposit Fees To commemorate the reintroduction of SEPA and FPS, Binance will waive all fees for all verified customers who deposit EUR through SEPA and GBP via FPS until the end of this month, regardless of how much they deposit. For transfers to be credited, users must transfer more than 3 EUR or 3 GBP. Regulatory Issues in Europe For Binance Following the regulatory issues that hampered the exchange’s operations last year, the news signals Binance’s resumption of fiat trading in Europe. The exchange has been under intense investigation from a rising number of authorities across the globe, particularly in Europe, who are concerned about the potential for cryptocurrency to be used to launder money and the hazards to consumers posed by unpredictable cryptocurrency trading. The platform has been under intense investigation from a rising number of authorities...