Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: Casual on July 07, 2021, 01:32:19 AM
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Customers must instead rely on credit or debit card payments. European users of the crypto exchange have received an email saying that customers could no longer deposit cash through SEPA, the Financial Times reported.
SEPA is a network that aims to make European payments quick, easy, and cheap by creating a single market for euro-denominated payments. Crypto traders use SEPA to transfer bulk sums of cash into exchanges. Now, Binance customers in the countries that use SEPA (currently 36) will not be able to use the system to deposit cash. Binance has not responded to a Decrypt request for comment.source (https://decrypt.co/75356/binance-suspends-sepa-euro-bank-deposits)
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It's very sad to feel this reality because the EURO is quite expensive than the USD and the EURO market for cryptocurrencies is also decent and it's definitely going to be a long time for Binance to fix it.
I am very sure that Binance will be able to continue to adapt to all that exists because Binance is a well-known exchange that is very large and has strict rules for its traders.
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SEPA is a network that aims to make European payments quick, easy, and cheap by creating a single market for euro-denominated payments.
We can think positively that SEPA has bugs or has inappropriate regulations so Binance has suspended payments to be able to deposit and withdraw with Fiat as is the case with the P2P feature on Binance.
This is only for a moment because SEPA can enter Binance more easily in the future if all the rules and regulations are complete and meet the requirements of Binance.
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If Binance provides a rule like this, it is certain that Binance has slightly different rules but in the future it is also quick to respond that Binance will straighten this problem out very quickly.
If the Euro SEPA for the Binance application is suspended, then wisely we must also respond with hospitality so that we can provide positive things for the progress of Binance.
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It's still a start for Binance to be able to work together on the European continent because I'm sure European countries will be very open to those who love cryptocurrencies because if you look at the government system on the European continent, it's generally liberal which allows anyone to have the right to own their assets from various materials including cryptocurrencies. .
Hopefully Binance will not suspend again on platforms on the European continent because the European continent is synonymous with extraordinary wealth and has a large market cap in terms of its country's currency.
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Actually, this kind of problem is easy to solve because Binance has a lot of experience in creating business opportunities in the cryptocurrency space and now there is a new problem with SEPA.
This SEPA seems to be constrained by country regulations in Europe so that it gives a bad experience for Binance which ends in Suspend.
We're trying to be positive because Binance is sure to clear things up with SEPA some other time.