Because of a choice made by its third-party provider, Binance Australia has suspended its Australian dollar services. Bank transfer withdrawals and PayID deposits will also be impacted, but withdrawals will continue to be processed for an unknown amount of time. The halt is effective right away, but withdrawals will continue to be accepted for an unspecified amount of time. Although the ability to buy and sell cryptocurrency using credit or debit cards is still available, Binance is working to find a substitute provider so that it can continue to offer Australian dollar deposits and withdrawals to its users. The suspension comes one month after Binance Australia Derivatives’ financial services licence was revoked by the Australian Securities and Investments Commission. The suspension may have a significant impact on a sizable number of Australian cryptocurrency users and investors.
