Binance, a cryptocurrency exchange has resumed EUR/GBP deposits and withdrawals using the SEPA payment network (FPS) and Faster Payments Services. Binance is also offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS to “celebrate the return of SEPA and FPS.”
Binance: FPS and SEPA Back
Binance, a cryptocurrency exchange announced Monday at 11:00 UTC that it will be available for desktop and mobile users:
Binance and Paysafe fully reopen EUR and UK deposits and withdrawals via the SEPA payment network, (SEPA), and Faster Payments Services.
“Binance retail users across Europe, with the exception of Netherlands and Switzerland, will be able to make EUR transfers directly via SEPA,” the exchange detailed.
The announcement adds that to “celebrate the return of SEPA and FPS,” Binance is “offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS” until March 31 at 11:59 p.m. UTC.
Binance suspended EUR bank transfers via SEPA in July 2013. Paysafe was announced by the exchange as a partner in order to return SEPA on January 26th. Both companies created a pilot program to allow EUR withdrawals and deposits via the SEPA Payment Network.
Binance also suspended GBP withdrawals last July after the Financial Conduct Authority (FCA) issued a warning to Binance that it was not allowed to engage in any regulation in the U.K.
Following the FCA’s warning, Binance’s payments solutions provider for GBP, Clear Junction, said it “will no longer be facilitating payments related to Binance.”
In August 2018, the FCA said that Binance had complied with its requirements. However, the regulator noted that Binance “signed an undertaking that it would not offer any cryptoasset activities unless and until either it was registered or the authority informed the firm that it could avail itself of the transitional provisions in the MLRs [Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017].”
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