Binance Australia Suspends AUD Fiat Deposits

Ashish Kumar
May 18, 2023 Updated September 4, 2025
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Crypto News: Australian arm of the world’s biggest crypto exchange, Binance on Thursday informed that it has suspended Australian dollar (AUD) services with an immediate effect. It cited that the problem occurred due to a decision taken by one of their third party payment service providers.

Also Read: As Ripple Rejoices Court Win US SEC Holds Option To Appeal

Binance AUS Users On Alert

Binance Australia mentioned that its third party payment service provider has stated that bank transfer withdrawals will also be impacted for the time being. However, the crypto exchange tried to assure the users that its working hard to find an alternative provider in order to continue AUD deposits and withdrawals.

According to the announcement, Australian users can still buy and sell digital currencies using their credit or debit card. Binance reassured that its P2P marketplace will continue to operate as usual, while the rest of the refunds are safe (SAFU). Read More Crypto News Here…

Also Read: US SEC Going Ripple Way Against Coinbase?

It is important to note that this suspension comes in after the Australian securities regulator took harsh action against Binance Australia. However, it was reported that the crypto exchange’s derivatives license was canceled at the crypto exchange’s own request. Meanwhile, the watchdog had already launched a review of Binance in February.

Binance is on a spree of receiving regulatory scrutiny over recent months. The Commodity Futures Trading Commission (CFTC) announced filing a civil enforcement action charging Changpeng Zhao and three entities that operate the Binance platform. This involves numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.