PrivatBank and Monobank have blocked all withdrawals from Binance.

by creator • 12.06.2022 • 0 Comments

PrivatBank and Monobank have blocked all withdrawals from Binance.

PrivatBank and Monobank have blocked all withdrawals from Binance.

Monobank has restricted withdrawals from cryptocurrency exchanges. Ukrainians will now be unable to deposit funds from the most popular exchange, Binance, to their Monobank cards, according to Technofan.

The bank noted that, in accordance with paragraph 4.3 of the Terms and Conditions of Service, if there is a suspicion of connection with prohibited activities, including forex transactions and electronic currency transfers, incoming and outgoing transactions in foreign currency are terminated.

"Transfers involving electronic currencies (not just Binance) are prohibited by the bank's rules, so such a payment cannot be counted," monobank stated.

However, the bank added that this does not yet affect other exchanges, but does not recommend that clients make such payments.

"I'm unable to comment on the situation. The ban was imposed by the bank."

A Binance representative commented on the situation. He recalled that, in order to reduce capital outflow from the country, the NBU has limited all cryptocurrency purchase agreements to 100,000 hryvnias per person per month.

"Apparently, some banks simply don't have the technical capacity to monitor the limit, so they block all crypto transactions for fear of violating the restrictions," he says.

According to our information, PrivatBank clients have also complained about a similar problem with direct withdrawals to hryvnia cards.

Thus, a temporary ban on the introduction of the hryvnia on the PrivatBank crypto exchange was introduced on March 16, but Ukrainian Bitcoin exchanges were not affected by the restrictions.

Skelet.Org

By topic: PrivatBank has twice tightened restrictions on transfers from hryvnia cards and is preparing a new limit for July.

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