Binance: 'No More Aussie Dollar Deposits' Until An Alternative Provider Is Found

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.

Fellow Binancians,

We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third party payment service provider. We understand from our third party payment service provider that Bank…

— Binance Australia (@Binance_AUS) May 18, 2023

Last month, the Australian Securities and Investments Commission withdrew Binance’s license for its derivatives operations in the country.

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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."

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