Barclays Bank reported that Binance, one of the largest cryptocurrency exchanges by daily volume, does not support fund transfers. In a resolution message to clients today, the bank announced its problems with transferring funds for financing. The banking giant cited a warning issued by the Financial Conduct Authority (FCA) against finances last week. This action affects more than 24 million Barclays customers worldwide.
Barclays Blocks Cables to Binance
Barclays is one of the UK’s leading banking institutions. announce They no longer support the transfer of funds for financing. The bank immediately implemented the statement and was intended to protect customers from their money. Barclays based the move on a warning issued last week by the Financial Conduct Authority regarding cryptocurrency exchanges. The bank stated:
This action will not affect the ability of clients to withdraw funds from Binans. The decision was made after the FCA warned consumers.
Last week, FCA Finance Markets Ltd said it was “not permitted to conduct any regulated activity in the UK”. As a result, many organizations study the best result on this topic. However, Barclays was not the first bank to deal directly with blocking payments to cryptocurrency exchanges. Last month, NatWest too Stabilizes Restrict daily transfers of cryptocurrency exchanges. This was due to fraudulent numbers related to these activities. Another UK bank says there will be a TSB Exercise Perform similar actions.
Barclays’ latest metric affects more than 24 million users worldwide. These customers are now unable to transfer their funds to Binance to purchase cryptocurrencies. Although the company does not have offices in the UK, Fiat uses a number of payment processors to transfer money from its customers to its platform. Reports have indicated that these payments are now unable to process these supplements.
Binance under consideration
Binance was recently audited by global regulators. Transfers against Criminal complaint in Thailand. According to the Securities and Exchange Commission of Thailand (SEC), the exchange is not authorized to operate there. Similar warnings were issued against the stock exchange. Cayman IslandsCanadian province OntarioAnd the South Africa, s Japan.
There is, too Reports The money laundering case is being investigated by the Department of Justice (DOJ) last May. The stock exchange worked to strengthen its systems according to the existing regulations. It was recently announced as one of the first exchanges. passenger reception, The Financial Action Task Force (FATF) is a tool that automates compliance with travel regulations. the company itself rented The former chief regulator and acting director of the United States’ Comptroller of the Currency, Brian Brooks, at the end of April.
What do you think about preventing Barclays customers from sending money to Binance? Tell us in the comments section below.
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