The world’s largest cryptocurrency exchange Binance has notified users from Ukraine about a temporary change in the conditions of working with fiat channels. According to an official letter sent to platform clients, starting from December 29, 2025, Binance is suspending a number of services related to fiat currency operations.
In addition, the platform has suspended several other services, but there is currently no talk of a complete blocking of fiat operations for citizens of Ukraine, Minfin reports.
The most sensitive restriction was the temporary suspension of direct withdrawals to Visa and Mastercard bank cards.
The decision affects exclusively fiat operations and does not impact cryptoasset trading within the platform. Nevertheless, for some users this significantly complicates the process of withdrawing funds and interacting with the traditional banking system.
Which services are suspended
According to the Binance notification, until further notice the following functions will be unavailable to users from Ukraine:
- withdrawals to Visa and Mastercard bank cards;
- automated recurring purchases of cryptoassets for fiat (Recurring Buy);
- limit orders to buy cryptocurrency using fiat funds.
At the same time, the restrictions apply specifically to fiat channels. Cryptocurrency deposits, trading, and transfers between users within the Binance ecosystem continue to operate as usual.
Which operations remain available
Despite the introduced restrictions, Binance retains a number of alternative ways of working with fiat for users from Ukraine:
- account top-ups using bank cards;
- deposits via Apple Pay and Google Pay;
- withdrawals via SWIFT bank transfers;
- withdrawal of fiat funds using the Zen.com payment service;
- use of the Binance P2P platform in those regions and directions where it is available.
Thus, the exchange does not block fiat completely, but effectively excludes the most popular and simplest method of withdrawing funds — directly to a card.
Binance’s position and requests for comments
In the official letter, the company did not disclose the reasons for introducing the restrictions and did not clarify whether they are a temporary measure or part of a broader policy toward certain regions.
Was card withdrawal available earlier
In practice, full and stable withdrawals to bank cards for users from Ukraine had already been limited since the beginning of the full-scale war.
In February 2022, the National Bank of Ukraine (NBU) introduced a number of emergency measures aimed at stabilizing the financial system. Among them were: limits on cash withdrawals; a ban on cross-border currency transfers; increased control over capital movements.
In April 2022, the restrictions were expanded and affected cryptocurrency operations. In particular, a ban was introduced on purchasing digital assets from hryvnia accounts. At the same time, funding crypto exchange accounts remained available via bank cards, as well as through Apple Pay, Google Pay, and SWIFT transfers.
For withdrawals, Binance had previously offered alternative channels, including SWIFT transfers and P2P trading, where users could exchange cryptoassets directly with each other.
What this means for users
The current changes are not a complete blocking of fiat operations, but they significantly raise the entry and exit threshold for retail users. The absence of direct card withdrawals means:
- longer withdrawal times;
- potentially higher fees when using alternative methods;
- increased load on the P2P segment;
- additional dependence on banking and payment intermediaries.
In effect, Binance continues to gradually adapt to regional regulatory restrictions, shifting part of the operational risks to alternative channels.
Recall that Binance is a global cryptocurrency exchange, blockchain ecosystem, and provider of infrastructure solutions for the cryptocurrency industry. The platform offers services for trading digital assets, storing cryptocurrencies, launching tokens, P2P operations, and fiat gateways.
As of November 2025, Binance serves more than 185 million users in over 180 countries, remaining the largest cryptocurrency exchange in the world by trading volume and number of clients.
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