Binance has suspended deposits and withdrawals on its platform due to spot trading issues.

(Reuters)

[Financial Channel/Comprehensive Report] Cryptocurrency exchange Binance (Binance) CEO Zhao Changpeng said in a tweet on Friday (24th) that deposits and withdrawals on his platform have been suspended due to spot trading issues.

Changpeng Zhao said initial analysis showed the search engine had encountered an error in tracking the stop loss order, though he said the suspension was a standard operating procedure.

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Binance said last week it would stop deposits and withdrawals in British pounds, a month after the world's largest cryptocurrency exchange halted dollar transfers.

Reuters previously reported that the Justice Department was investigating cryptocurrency exchanges for money laundering and sanctions violations.

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