![]() ![]() Thailand’s SEC took the matters more seriously and filed a criminal complaint against Binance due to unregistered operations. Meanwhile, Binance announced it would no longer operate in the Canadian province of Ontario after regulators there implemented stricter regulations targeting cryptocurrency exchanges. Over the past two weeks, financial regulators in Japan and the United Kingdom have warned users about Binance’s regulatory status in their respective countries. It’s difficult to say what the next steps for Binance are both in the UK and globally.īinance has been caught in a regulatory regulatory crossfire, with several jurisdictions around the world taking stricter measures to limit the exchange’s operations. With this in mind we’ve taken the decision to stop payments made by credit/debit card to Binance until further notice, to help keep your money safe.” The account also directs users to the FCA homepage for more information. The Barclays UK Help Twitter page is routinely replying to frustrated consumers with copy-and-paste language stating: “It’s our responsibility to help protect your money. “We take our compliance obligations very seriously, and we are committed to working collaboratively with regulators to shape policies that protect consumers, encourage innovation, and move our industry forward.” The FCA notice had no bearing on user deposits on the main Binance website, the spokesperson said, adding that, “We have always taken the security of our users’ money very seriously.”īinance is open dialogue with Barclays to discuss the matter further: ![]() “The FCA notice relates to, which is a company incorporated in the UK and regulated by FCA.”īML is a separate legal entity that doesn’t offer any products or services through the main Binance website. “We are disappointed that Barclays appears to have taken unilateral action based on what appears to be an inaccurate understanding of events.” The apparent ban comes roughly two weeks after the UK’s Financial Conduct Authority (FCA) stated that Binance Markets Limited, the firm’s UK operations, was not holding proper authorization to carry out crypto operations in the country.īarclays’ decision to stop facilitating British customers’ payments to Binance has been met with criticism by the cryptocurrency exchange. Financial Conduct Authority’s recent edict only applies to Binance Markets Limited, or BML, which is a separate legal entity from the main global exchange that operates through .īarclays clients in the UK can no longer transfer funds to Binance after the bank indefinitely banned credit and debit card transactions to the exchange, according to recent reports.
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