Binance suspends popular fiat ramp for U.K. customers amid regulatory crackdown
Faster Payments is no longer an option for Binance customers in Britain amid increasing regulatory pressure. Binance’s U.K. customers are currently unable t use the popular local payments provider, Faster Payments, to withdraw British pounds (GBP) from the exchange. On Monday, June 28, a notice on the Binance website declared that GBP withdrawals via Faster Payments had been “suspended for maintenance,” according to the Financial Times. Faster Payments is a payment provider used by major banks to process near-instant payments. It has become one of the preferred channels for moving fiat....
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U.K Binance users are reporting the suspension of fiat withdrawals and deposits on the crypto exchange. Additionally, attempts to on/off ramp show the service is suspended for maintenance. This comes as a Financial Conduct Authority (FCA) published an article on the weekend warning consumers about Binance Markets Limited and the Binance Group. Given the close […]
As of 8 am UTC on Wednesday, Binance users will no longer be able to make euro deposits through their bank. However, they can still fund their accounts with credit cards and debit cards. Regulatory constraints facing Binance have forced the popular cryptocurrency exchange to temporarily halt bank transfers denominated in euros, according to an email sent to its customers on Tuesday. Specifically, euro deposits via the Single Europe Payments Area, or SEPA, have been put on hold indefinitely due to circumstances beyond the exchange’s control, Binance said in the email:“Due to events beyond....
Chinese authorities are launching a national crackdown against fraudulent SIM card and bank account schemes. The latest detained under this operation is one of the founders of a Hong Kong-based cryptocurrency exchange CEO Global (ceobi). Crypto Exchange Founder Taken Into Custody by Chinese Police Amid Nationwide Crackdown According to an announcement published by CEO Global, one of its founders had been taken under custody by China’s authorities in the midst of an ongoing investigation that involves alleged participation in a fraudulent bank account and SIM card scheme. The....
Binance has reportedly been forced to suspend fiat currency withdrawals for customers in the United Kingdom once again. Binance customers in the United Kingdom are once again left without a fiat currency withdrawal option on Binance.According to Financial News on Tuesday, the crypto exchange giant sent emails to affected customers informing them of the problem.However, the exchange reportedly has not given any details as to the reason for the latest suspension of pounds sterling withdrawal but assured customers that it was working to resolve the situation.Back in June, Binance had....
Cryptocurrency exchange Binance is discontinuing certain offerings in Norway. The news comes amid regulatory pressure around the world which the global trading platform is working to address. The company is also dropping Norwegian from its website’s language options. Crypto Exchange Binance Suspends Product and Service Offerings in Norway Binance, the world’s leading digital asset exchange in terms of daily trading volume, has announced it will no longer offer some products and services in the Norwegian market. The changes come into effect “immediately,” the....