Signature Bank, Binance's Fiat Partner, Sets a Minimum Transaction Limit
  • Binance recently announced that its fiat partner, Signature Bank, has implemented a minimum transaction limit for all transactions.
  • Users will now be required to make a minimum transaction of $10,0000 in order to buy or sell cryptocurrencies on the Binance platform.
  • This move by Signature Bank is likely an effort to comply with regulatory requirements and to prevent money laundering.
  • Cryptocurrency exchanges have been under scrutiny from regulators in recent years, and many have implemented measures to prevent illegal activities such as money laundering and terrorism financing.
  • In December 2022, Signature Bank, located in New York, stated its plans to reduce approximately $10 billion in deposits from clients involved in digital assets.
https://twitter.com/MikeBurgersburg/status/1616901701927059457?s=20&t=M93hmyWVniUNH0T1OmLsJA
Mridul Srivastava

By Mridul Srivastava

Mridul is an MBA pursuing a content writing career. He is a dedicated, detail-oriented freelance writer with over 2 years of experience and knowledge in the fields of Web3, blockchain, cryptocurrency, and NFTs. He is skilled in producing long and short content per the guidelines and client requirements for maximum search engine optimization.