Binance to suspend hryvnia purchases via Settlepay and Advcash

From March 21, 2023, the cryptocurrency exchange Binance will restrict hryvnia transactions via fiat gateways Settlepay and Advcash.

Dear users,

The purchase of hryvnia using the Settlepay wallet and the Advcash wallet will be unavailable from 21.03.2023 02:00 (Kyiv time).
⚠Please note
Withdrawals via Settlepay are currently open and you can withdraw fiat to a wallet.

➡️More detailshttps://t.co/CMrkVNgtdH pic.twitter.com/fd7R776ubH

— Binance Ukraine (@BinanceUkraine) March 13, 2023

In a comment, ForkLog UA said that the platform would suspend hryvnia purchases via both services. Withdrawals of hryvnia via Settlepay remain possible.

«Due to recent restrictions on fiat channels, namely deposits and withdrawals via bank cards and other payment services, these channels have been suspended across Ukraine. This decision is tied to the fight against illegal gambling, and, unfortunately, has also affected cryptocurrency exchanges», — noted by Binance.

They also advised customers to conduct transactions via the internal P2P service.

Earlier this month, crypto platforms reported a temporary suspension of operations through hryvnia bank cards.

Founder of Kuna exchange Mikhail Chobanian, citing MP Oleksii Zhmerenetsky stated that this is related to countering money laundering and tax evasion in the gambling sector.

The same reason was confirmed by Binance.