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Binance continues to face legal issues in various countries around the world. Binance France, which had a banking partner in Europe, Paysafe, recently ended their partnership. An astonishing claim has been made about Binance France, stating that an executive recommended customers to convert their assets into cryptocurrencies instead of fiat currencies. Binance is not only dealing with legal problems in Europe but also in many other parts of the world.
Binance Has Yet to Find a Partner
The partnership between Binance France and Paysafe ended on September 25th. According to this partnership, Paysafe provided infrastructure for Binance France customers to deposit and withdraw euros through SEPA bank transfers. Despite the announcement of the partnership ending on June 25th, Binance France has not been able to establish a new partnership for this service.
A spokesperson for Binance France confirmed in an interview with radio station BFM on September 26th that Binance France recommended its customers to convert their fiat currency balances into cryptocurrencies as soon as possible:
“Binance is working as fast as possible to onboard new partners and will provide an update in the very near future.”
In addition to this statement, users continue to report on social media that they see a warning message when they open the mobile application, which leads to criticism.
Binance and Its Legal Issues
Binance customers in Europe have already been experiencing difficulties with fiat currency withdrawals since August. At that time, Binance France announced the suspension of euro withdrawal and deposit transactions via SEPA due to the inability to perform these transactions without a payment service provider in the European region.
Binance, which has been facing legal problems in many countries around the world, is currently dealing with serious issues. Recently, it came under scrutiny for allegedly not complying with financial sanctions imposed by Russia. Furthermore, after suspending its operations in the Netherlands on June 16th, Binance was also forced to leave Belgium.
Lastly, Binance announced its complete departure from Russia by acquiring CommEX, a recently launched cryptocurrency exchange in Russia.
