Barclays Suspends Card Payments To Binance, Cites FCA Notice
The main crypto exchange Binance could be in a few cloudy days after a decision to Barclays (LON 🙂 to suspend debit and credit card payments on the platform “until further notice”.
The British banking giant told customers on Monday that it would no longer facilitate payments made to Binance. Customers reportedly received an SMS notification from the bank on Monday, which reads:
As you made a payment to Binance this year, we wanted to let you know that we are stopping payments made by credit / debit card until further notice. It is to help keep your money safe. For more information, please search FCA Binance online. We are sorry for any disruption this may cause you.
Some customers started having trouble making payments to Binance from the bank last week. Following the bank’s confirmation, several customers took to Twitter to express their dissatisfaction with the decision, with many threatening to stop using the bank.
See you later Barclays. Only one dangerous criminal enterprise in this conversation and it’s not Binance! Disgusting decision and I hope many more will close their accounts.
– Quantanomics (@PampDamp) July 5, 2021
In what could be described as a damage check following negative comments from disgruntled Binance customers, the bank’s social media manager directed Binance users to the UK’s Financial Conduct Authority website.
In addition to the UK, Binance is also under intense pressure from regulators in Canada, Thailand, the Cayman Islands, Japan and Germany.
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