June 28 (Cointime) - Binance's current banking partner for EUR transactions, Paysafe Payment Solutions Limited, will no longer provide services to the crypto exchange after September 25.

Binance users will need to update their banking details and accept new terms and conditions to continue using SEPA services after this date.

SEPA is the European Union's cross-border payment network for euro transactions. This development follows Binance's recent regulatory backlash in Europe and the US, including a lawsuit from the SEC and orders to halt services in certain countries.

In February 2022, the UK's financial regulator expressed concern over Binance's access to the country's primary payments network through its partnership with Paysafe.