Binance’s Paysafe deal worries UK financial watchdog
Binance lost access to the sterling payment network in July; however, the Paysafe partnership opened the gates to restricted services. The Financial Conduct Authority (FCA), the top financial authority in the United Kingdom, has raised concerns over Binance’s recent partnership with Paysafe, a retail payment processor.The U.K. financial watchdog said the latest partnership of Binance gives it access to the extensive retail payments network via Faster Payment Services, a critical service that was discontinued for the crypto exchange citing regulatory concerns. The FCA ordered Binance to....
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