Barclays blocks UK customers from transferring funds to Binance: "Ensuring the safety of your funds"

Barclays Bank in the UK has blocked customers from transferring funds to Binance. This decision was made following the Financial Conduct Authority (FCA) in the UK announcing that Binance is not permitted to carry out any regulated financial activities in the UK.

Barclays Bank has informed customers that they are prohibited from using debit and credit cards to withdraw funds to the cryptocurrency exchange Binance in order to ensure the safety of customer funds. However, customers can still withdraw funds from Binance.

https://twitter.com/PrfctSymmetry/status/1412044825252270088

Binance has been embroiled in a series of controversies in the past half month, with various financial regulatory authorities from countries including the UK, Japan, Canada, Thailand, and the Cayman Islands issuing warnings one after another, with Thailand even threatening criminal charges.

Last month, the FCA issued a warning to Binance Markets Limited, although it cannot ban Binance, it has restricted Binance Markets Limited from conducting "regulated activities" in the UK.

Binance is currently the world's largest cryptocurrency exchange, leading in terms of trading volume, variety of coins, and digital services. However, as an industry giant, Binance has always emphasized that it has "no headquarters" and has stated that it takes compliance with regulations in various countries very seriously.

This article is authorized and reproduced from Horizon News Network