Kenne Michael 
Effective June 1, the exchange has suspended all AUD trading pairs. To facilitate withdrawals and trading operations after this date, users may convert their AUD balance to USDT. Customers can still purchase and trade cryptocurrencies using credit and debit cards, and Binance Australia’s P2P marketplace will continue to operate routinely despite these changes. In addition, the exchange is actively investigating alternative suppliers to continue accepting AUD deposits and withdrawals.
Fellow Binancians,
We regret to inform you that AUD deposits and withdrawals by bank transfer are no longer available to Binance users in Australia. Binance has ceased all AUD trading pairs as of June 1. In order to facilitate withdrawals and trading activities after June 1, you…
— Binance Australia (@Binance_AUS) June 1, 2023
Binance Australia, a prominent cryptocurrency exchange in the region, has issued a remarkable statement regarding service changes. Beginning June 1, the platform will no longer accept deposits and withdrawals in Australian dollars (AUD) via bank transfer. Users have been informed in advance.
Due to actions were taken by third-party payment providers, Australian dollar PayID deposits have been blocked, and bank transfer withdrawals will also be affected. The affiliate of Binance Australia has been pursuing alternative suppliers to remedy this situation. AFR (Australian Financial Review) reports that Westpac Bank has prohibited its clients from trading on Binance and is testing new crypto payment safeguards to reduce fraud losses.
While Binance confronts regulatory inquiries, Australian customers quickly liquidate their cryptocurrencies at a discounted rate relative to competing exchanges.
Binance Australia has discontinued all AUD trading pairs, indicating a shift in the exchange’s operational emphasis. Nevertheless, users can continue to conduct cryptocurrency transactions with credit or debit cards, ensuring uninterrupted access to digital assets. In addition, Binance Australia remains committed to offering users alternative ways to partake in crypto transactions and protecting user funds through the Safe Asset Fund for Users (SAFU).