Binance will delist the USDT/UAH spot trading pair and close UAH deposits and withdrawals via Fiat Trade UAH on September 28, affecting its Ukrainian clients. All remaining UAH balances will automatically convert to USDT by September 30. The move removes a key gateway between Ukraine’s financial system and crypto markets. Separately, Binance faces ongoing regulatory hurdles: the European Union’s MiCA framework rejected its bid after European Central Bank President Christine Lagarde personally urged Greece to block it. In the United States, prosecutors are investigating potential Iran sanctions violations linked to the platform, following a 2023 guilty plea in which Binance paid $4.3 billion in penalties and former CEO Changpeng Zhao served four months in prison before receiving a presidential pardon from Donald Trump.
The world’s largest cryptocurrency exchange announced a delisting move that will primarily affect its Ukrainian clients. Binance has been making headlines lately amid regulatory challenges in the European Union, and reports say US prosecutors have been examining alleged Iran-linked trading on the platform.
Binance revealed that it will close UAH deposits and withdrawals via Fiat Trade UAH and delist the USDT/UAH spot trading pair. These services will no longer be supported after September 28. “All open orders on the USDT/UAH Spot trading pair will be automatically removed after trading ceases. Users are advised to manage their UAH balances and open orders before the above deadlines,” the company clarified.
The exchange also said it will automatically convert all remaining UAH balances to USDT by September 30. No action is required from users who choose this option. UAH is the symbol for the Ukrainian hryvnia, the official currency of the Eastern European country.
Ukraine has in fact emerged as a stronghold for Binance, with millions of Ukrainians using its services. Earlier this year, the company focused on some of its strongest markets and launched seven new official WhatsApp channels, including one for users in Ukraine.
The European Union’s MiCA regulatory framework took effect on July 1, and crypto platforms that could not obtain the required license were not allowed to offer services to local clients. Binance, which applied through Greece, was rejected, and many users reported disruptions. Earlier this month, The Wall Street Journal disclosed that Christine Lagarde, President of the European Central Bank, personally asked Greek Prime Minister Kyriakos Mitsotakis to block Binance’s bid for permission.
Meanwhile, Binance recently faced a new investigation in the United States over potential violations of sanctions on Iran. According to Bloomberg, local authorities have been examining whether the exchange enabled certain trading activity linked to the Asian country on its platform. Recall that in 2023, the firm agreed to plead guilty and pay $4.3 billion in penalties to resolve US anti-money-laundering, sanctions, and money-transmission violations. Its former CEO, Changpeng Zhao, was sent behind bars for four months and paid a $50 million fine before receiving a presidential pardon from Donald Trump.
