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British Banking Giant Barclays Bans Payments to Binance, Citing FCA Notice

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Mon, 07/05/2021 - 14:16
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Alex Dovbnya
Barclays has started blocking all credit/debit card payments to cryptocurrency exchange Binance
British Banking Giant Barclays Bans Payments to Binance, Citing FCA Notice
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British banking behemoth Barclays has informed its customers that it’s halting debit/credit card payments to cryptocurrency exchange Binance "until further notice."   

As you've made a payment to Binance this year, we wanted to let you know that we're stopping payments made by credit/debit card to them until further notice. This is to help keep your money safe. For further info, please search FCA Binance online. We're sorry for any disruption this may cause you.

The bank’s customer service team is directing a slew of disgruntled Binance users to the website of the Financial Conduct Authority.

On June 26, the FCA issued a consumer warning about Binance Markets Limited not being allowed to conduct any regulated activity in the country.    

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However, the exchange claimed that the FCA notice wouldn’t affect its services in the U.K. since BML is a separate entity.    

Apart from the U.K., Binance is facing intense regulatory scrutiny in Canada, Thailand, the Cayman Islands, Japan, and other jurisdictions.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.