Users Have Been Informed,Binance users in the UK were once again deprived of fiat withdrawals on the giant exchange.
Giant cryptocurrency exchange Binance reported that users in its UK location were once again forced to suspend fiat withdrawals. Binance users in the UK were once again deprived of fiat withdrawals on the giant exchange.
✅Binance Provided Information Transfer to Its Users
According to the latest information reflected in the media, Binance informed its customers affected by this transaction via e-mail. However, the exchange did not provide any details about the reason for the suspension of Sterling and stated that they are working to resolve the situation. Last month, Binance temporarily suspended fiat payments via faster payment, following the UK's Financial Conduct Authority's warnings about unlicensed exchanges operating in the country. Binance reinstated the service at the beginning of July, but the same situation once again today has plunged UK citizens into uncertainty.
Binance left questions posed by the media unanswered. The giant exchange has lost key partnerships with payments firms like Clear Junction in the UK. Earlier this month, Barclays decided to discontinue payment support for cryptocurrency exchanges. Responding to Barclays' decision, a Binance spokesperson previously stated that the FCA has concerns about Binance Marktes Limited, not its global crypto exchange operations.
✅Binance Targets Financial Controllers
However, Santander's UK branch followed in Barclays' footsteps by blocking user payments to the crypto trading platform. Binance has recently become a target with different decisions from supervisory institutions. Apart from the UK, financial controllers in Japan, Poland and Canada have also targeted Binance. Binance CEO Changpeng Zhao stated that the storm of supervisory institutions the company is facing is part of the change. Despite the prohibitive strategy of the supervisory institutions, Binance continues on what it calls the “compliance journey”