09Feb
TradingLounge Support | 09 Feb, 2023
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Banking,
Challenges,
Crypto Industry,
Regulatory Scrutiny,
Digital Asset Companies,
Money Transfers,
Binance,
Reluctance,
Financial Institutions,
Wire Transfers,
Risk,
Warnings | 0 Comments |
The crypto industry faces a significant challenge in finding banking partners to facilitate money transfers for buying and selling digital assets. As regulatory bodies increase warnings to banks about the risks associated with doing business with crypto firms, the number of banks willing to process wire transfers for the crypto industry has declined. Binance, the world's largest crypto exchange, recently announced a temporary halt of US dollar deposits and withdrawals through bank accounts, ...
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