Binance has suspended card-based withdrawals for users in Ukraine, according to a notice sent to customers this week.
The changes will take effect on Monday and include a suspension of direct debits to bank cards issued by Visa and Mastercard, multiple local Ukrainian news outlets reported.
A Binance spokesperson confirmed the news to Cointelegraph, adding, “The announcement regarding changes in payment methods only applies to users in Ukraine who have previously used Bifinity services.”
On December 15th, Binance informed its users that fiat payment provider Bifinity UAB will cease providing services by the end of this month due to regulatory changes. At the time, the exchange explained that the change would affect some fiat on-ramp and off-ramp payment methods, but said the ability for users to deposit, withdraw, buy, or sell cryptocurrencies would continue without interruption.
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Further changes for users in Ukraine
According to Ukrainian news outlets, Binance also told users that regular crypto purchases and existing fiat-based limit purchase orders will not be processed during the suspension period.
However, the core fiat on-ramp functionality remains largely intact. Users in Ukraine can still use Visa and Mastercard for incoming transactions to deposit funds and purchase cryptocurrencies. According to the report, Apple Pay and Google Pay will still be available to top up your account, and Swift Transfers will continue to support both deposits and withdrawals.
“This change is not related to the National Bank of Ukraine and does not affect P2P operations, which continue to function as usual,” the spokesperson said.
This update also affects the availability of Zen.com, a payment platform commonly used for trading euros and Polish zlotys. Binance stated that full Zen deposit and withdrawal functionality for users in Ukraine is scheduled to resume on January 6, 2026. Until then, users looking to move funds from exchanges may need to rely on alternative routes such as Swift transfers and peer-to-peer trading, where permitted.
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Binance is under scrutiny again
Binance has come under renewed scrutiny after last week’s Financial Times report that Binance allowed a group of potentially suspicious accounts to continue moving crypto assets even after agreeing to tighten controls under a $4.3 billion U.S. criminal settlement in 2023.
Since 2021, the 13 linked accounts have processed approximately $1.7 billion in transactions, including approximately $144 million after Binance entered into a plea agreement in November 2023, involving users across several high-risk jurisdictions, according to the report.
Binance denied structuring the report, telling Cointelegraph that all transactions were evaluated based on information available at the time and that none of the wallets involved had been sanctioned at the time the conduct occurred.
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