As of February 8, 2023, Binance, a popular cryptocurrency exchange, has temporarily halted bank transfers in US dollars. However, this suspension only affects customers who are not based in the United States and are transferring money to or from dollar accounts. Binance US, a separate division of the company that is regulated by the Financial Crime Enforcement Network of the Treasury Department, is not affected. Another crypto platform, LocalBitcoins, has also announced that it will no longer be serving users. The company cited the prolonged crypto winter as the reason for this decision.
LocalBitcoins
Announcement on the official website
“We encourage all customers to withdraw their funds from LocalBitcoins.”
LocalBitcoins has announced that it will be discontinuing its services due to the extended period of reduced demand for cryptocurrencies. The platform has encouraged its customers to withdraw their funds and has given them a one-year window to do so. However, the company has advised its clients not to delay and to complete the withdrawal process as soon as possible.
Starting from February 9, LocalBitcoins will no longer accept new user registrations. From February 16, the platform will cease trading and suspend the use of wallets, with the exception of asset withdrawals. The company’s support team has also stated that, from February 17, 2023, only the withdrawal of bitcoins will be possible, and trading and wallet services will be discontinued.