Regulatory changes force temporary pause on card-based withdrawals while core crypto services remain available
Global cryptocurrency exchange Binance has confirmed a temporary suspension of Visa and Mastercard withdrawals for users in Ukraine, following changes tied to its fiat payment infrastructure. The update affects users who relied on card-based withdrawal services, while most other exchange functions remain operational.
Card Withdrawals Paused Due to Payment Provider Changes
The suspension took effect earlier this week and applies specifically to direct withdrawals to bank cards issued by Visa and Mastercard. According to the exchange, the change impacts Ukrainian users who previously used Bifinity, Binance’s fiat payment service provider.
Earlier in December, users were informed that Bifinity UAB would cease offering services by the end of the month due to regulatory developments. While this adjustment disrupted certain fiat on- and off-ramp methods, Binance stated that crypto trading, deposits, and withdrawals would continue without interruption.
The update is limited in scope and does not represent a full halt of fiat access, according to company statements.
Despite the withdrawal pause, Ukrainian customers can still deposit funds and purchase cryptocurrencies using Visa and Mastercard for incoming transactions. Apple Pay and Google Pay remain active for account funding, and SWIFT transfers continue to support both deposits and withdrawals.
Recurring crypto purchases and existing fiat-based limit buy orders are temporarily unavailable, but peer-to-peer trading remains unaffected. The exchange also clarified that the changes are not related to Ukraine’s central bank.
Temporary Disruption to Zen.com Access
The update also impacts Zen.com, a payment platform used for euro and Polish zloty transactions. Full deposit and withdrawal functionality for Ukrainian users is expected to resume on January 6, 2026.
The announcement comes amid renewed attention on Binance’s compliance practices. The exchange has reiterated that all transactions are monitored based on available information and maintains that affected wallets were not sanctioned at the time of activity.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.