Binance, the world’s largest cryptocurrency exchange, announced that it will stop the transactions on the stock market with a new announcement made in the past minutes on its official website.
Trading Stops on Binance
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, has released a new announcement on its official website today. According to Binance’s announcement, the exchange will stop trading on December 20.
According to the statement made by the exchange, from 06:00 on 20 December, all transactions will be stopped for a scheduled fiat system upgrade. This upgrade of Binance will take 1 hour in total and users will be able to continue all their transactions at the end of the upgrade.
The full announcement published on Binance’s official website is as follows;
“Binance will perform a scheduled fiat system upgrade starting 2021-12-20 03:00 AM (UTC). The upgrade will take about an hour. All functionality will be resumed after the upgrade is complete. No further announcements will be made.
Major improvements in this upgrade include:
General system performance and stability improvements.
The following services will be suspended during the upgrade:
Buying crypto with a card
Fiat deposits and withdrawals
One hour upgrade time is based on our best estimates and is subject to change. As always, we will maintain regular communication about the progress of the upgrade on our various social media channels.
We apologize for the inconvenience caused, and thank you for your patience.
Risk Warning: Cryptocurrency trading involves significant risks and can result in loss of capital. You should not invest more than you can afford to lose and make sure you fully understand the risks involved. Before trading, please consider your level of experience, purchasing goals and seek independent financial advice if necessary. It is your responsibility to find out if you are allowed to use Binance services according to the legal requirements in your country of residence.”