ChainCatcher message, Binance has released an update for Paysafe users, stating that due to Paysafe's unilateral decision to stop processing euro deposits for Binance users, Binance advises Paysafe users to take appropriate action in advance. Paysafe users can convert their euro balance in their Binance account to USDT before 8:00 on October 31, while users can continue to withdraw their euro balance from their Binance account to their bank account.According to previous news, Paysafe will no longer provide euro deposit and withdrawal services to Binance users starting from September 25, 2023.

ChainCatcher news, according to Cointelegraph, a spokesperson for Binance's French subsidiary confirmed to French radio that the subsidiary has advised users to convert their fiat currency on the platform to cryptocurrency as soon as possible. The spokesperson stated that Binance's French subsidiary is working to onboard new partners as quickly as possible and will release the latest news in the near future.The partnership between Binance's French subsidiary and Paysafe ended on September 25. Paysafe had previously provided infrastructure support for euro deposits and withdrawals via SEPA bank transfers.

ChainCatcher news, Binance's European payment partner Paysafe plans to terminate support for customers of the exchange on September 25. However, some users in the region have already been unable to use this service before the deadline.One user, Ervin Ursic Kovac, revealed that he sent some ETH to his account on September 12 and sold it for euros, but was unable to withdraw it. Instead, he received a pop-up message stating that his account had been closed early, with no prior warning. A message titled "Paysafe Notification" stated, "As a high-frequency user of Paysafe services, Paysafe has closed your account early to expedite this process. The remaining euros/pounds in your account can be withdrawn after the review is completed."

ChainCatcher message, Binance's existing euro banking partner Paysafe will stop providing service support to Binance after September 25. A Binance spokesperson stated that they will change the provider for euro deposits and withdrawals via bank transfer (SEPA). At that time, Binance eurozone users will need to update their bank details for account deposits and may need to accept new terms and conditions to continue using SEPA services after this date. (Source link)

ChainCatcher message, due to the complexity and challenges of the regulatory environment in the UK, the payment platform Paysafe has decided to stop providing its embedded wallet solution to Binance customers in the UK. As a result, Binance has suspended GBP deposits and withdrawals for new users starting March 13, and will suspend all users on May 22. Binance stated that this decision affects less than 1% of users and is working to find alternative solutions.It is reported that the UK announced a plan to regulate cryptocurrency trading and lending in February, with stricter and broader regulations. As Paysafe expands in Europe and Latin America, Paysafe will continue to work with Binance. (The Block)