Binance to End UAH Services and Delist USDT/UAH Pair on September 28

What Binance announced

The exchange said UAH deposits and withdrawals via Fiat Trade UAH will no longer be available after September 28. It also confirmed the delisting of the USDT/UAH spot pair on the same timeline.

Binance stated that all open orders on the USDT/UAH market will be automatically removed after trading ceases. The company urged users to manage both their hryvnia balances and any open orders before the relevant deadlines.

For users who leave funds in UAH, Binance said it will automatically convert the remaining balances to USDT by September 30. The company added that no action is required from users who prefer that option.

Why the move matters for Ukrainian users

UAH is the ticker for the Ukrainian hryvnia, the country’s official currency. Removing UAH funding support and the USDT/UAH pair reduces one of the direct links between Ukraine’s domestic financial system and crypto trading on Binance.

That matters because Ukraine has been one of Binance’s stronger markets. The source article says millions of Ukrainians use the platform, and notes that earlier this year Binance highlighted its core markets by launching seven official WhatsApp channels, including one aimed at users in Ukraine.

Broader regulatory pressure on Binance

The announcement comes as Binance continues to deal with regulatory pressure in several jurisdictions. In the European Union, the MiCA framework took effect on July 1, and crypto platforms without the required authorization were not allowed to serve local clients.

The source article says Binance applied for approval through Greece but was rejected, leading many users to report disruptions. It also cites a Wall Street Journal report that European Central Bank President Christine Lagarde personally asked the Greek prime minister to block Binance’s application.

According to that report, the concerns included Binance’s earlier guilty plea in the United States over money-laundering and sanctions violations, as well as worries that admitting the exchange could increase the use of dollar-backed stablecoins while the ECB was working on a digital euro.

US scrutiny remains in focus

Binance is also facing renewed attention in the United States. Bloomberg reported that US authorities are examining whether the exchange enabled certain trading activity linked to Iran, an allegation tied to possible sanctions issues.

The company has already resolved a major US case in 2023, when it agreed to plead guilty and pay $4.3 billion in penalties related to anti-money-laundering, sanctions, and money-transmission violations. Former CEO Changpeng Zhao was sentenced to four months in prison and fined $50 million, according to the source article.

The same source adds that Zhao was later granted a presidential pardon by Donald Trump. For now, the only confirmed next steps for Binance’s Ukrainian users are the September 28 end of UAH services and the September 30 automatic conversion of any remaining UAH balances into USDT.