U.K. bank Barclays stops facilitating British customers’ payments to Binance
UK banking giant Barclays said it is blocking customers from using their debit/credit cards to make payments to crypto exchange Binance.
“With effect from today, Barclays intends to stop credit and debit card payments to Binance. This action does not impact on the ability for customers to withdraw funds from Binance.” Barclays told CoinDesk.
Source: Perfect Symmetry / Twitter
The decision follows shortly after the FCA warned consumers that Binance Markets Limited will no longer be allowed to engage in any regulated financial services in the UK.
“We are disappointed that Barclays appears to have taken unilateral action based on what appears to be an inaccurate understanding of events,” the spokesperson of Binance told Cointelegraph, referring to the edict by the FCA, barring Binance Markets Limited from operating in the country.
“The FCA notice relates to Binance Markets Limited (BML), which is a company incorporated in the UK and regulated by FCA,” the spokesperson said, adding that BML is a separate legal entity that doesn’t offer any products or services through the main Binance website.
This year, Binance has also faced new regulatory hurdles recently in Thailand, Caymans, Canada, Japan, and the US, with one in Thailand even threatening criminal charges.
- Binance: The FCA UK Notice Has No Direct Impact On The Services Provided On The Platform, Nothing Has Changed
- Binance Shouldn’t Be Operating In The U.K, Says FCA