On March 31, 2025, the exchange will officially shut down its P2P Cash Zone. This will end cash-based crypto transactions through registered merchants.
This marks a major shift for users who rely on cash trades to buy and sell cryptocurrency.
Binance Ends P2P Cash Zone to Align with Global Regulations
The Binance P2P Cash Zone allows users to trade crypto for cash with registered merchants. However, with this service coming to an end, customers will no longer be able to complete in-person cash deals. Instead, they will need to use digital payment methods or traditional bank transfers for their transactions.
This decision aligns with Binance’s ongoing efforts to tighten compliance with global financial regulations. Many governments have been cracking down on cash transactions due to concerns about money laundering and illicit activities. By removing this feature, Binance is likely aiming to stay on the right side of regulators.
⚡️ LATEST: Binance will shut down its P2P Cash Zone on March 31, 2025, ending cash-based crypto transactions through registered merchants.
The move has raised concerns among traders in regions with limited banking access. pic.twitter.com/SePNpHo1VH
— Cointelegraph (@Cointelegraph) March 5, 2025
Binance has not announced any direct replacement for the Cash Zone, but users can still trade through its regular P2P service using bank transfers, e-wallets, and other digital payment methods. While this provides alternative ways to transact, some traders might find it less flexible compared to cash deals.
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