• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Barclays customers with a credit and debit card can no longer transact with Binance.
Nexo Logo

Barclays UK Customers Can No Longer Transfer Funds To Binance

Taylor Scott by Taylor Scott
11 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Barclays clients in the UK can no longer transfer funds to Binance after the bank indefinitely banned credit and debit card transactions to the exchange, according to recent reports. The apparent ban comes roughly two weeks after the UK’s Financial Conduct Authority (FCA) stated that Binance Markets Limited, the firm’s UK operations, was not holding proper authorization to carry out crypto operations in the country.

Binance & The FCA: Where It All Stands

The Barclays UK Help Twitter page is routinely replying to frustrated consumers with copy-and-paste language stating: “It’s our responsibility to help protect your money. With this in mind we’ve taken the decision to stop payments made by credit/debit card to Binance until further notice, to help keep your money safe.” The account also directs users to the FCA homepage for more information.

The exchange had been ordered by the FCA in recent weeks to stop crypto regulated activity in the country no later than June 30; while generic crypto-assets are unregulated, surrounding trading products such as futures and options are regulated in the UK.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The FCA is a watchdog that is a financial regulatory body, but also independent from the UK government. As part of broader statement, the FCA also showed broad concern around crypto exchanges at large; the watchdog gave exchanges six weeks from the public letter issue date to remind customers how their money is protected and to send clear messaging that regulatory protection does not apply to them. Accordingly, a number of exchanges, such as Coinbase and Uphold, have issued releases to their UK clients.

Related Reading | Bitcoin Whales Accumulate 60,000 Bitcoins In A Day. What Happens Now?

What’s Next?

It’s difficult to pinpoint next steps for Binance both in the UK and globally. The UK joins a growing list of countries that have been probing or investigating Binance, including the US, Japan, Thailand, and Canada. The firm has also had it’s headquarters move around substantially, before finally concluding that it is a “decentralized” company with no corporate headquarters.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The FCA has only approved five crypto companies to date, and while Binance had applied within the past year to join that list, the company reportedly pulled their own application after “intensive engagement” from the FCA. Binance has responded to the FCA expressing disappointment in the watchdog’s decision, stating the compliance and regulations continue to be a focal point for the firm, and noting that Binance and Binance Markets Limited are separate legal entities.

The global exchange could likely face increased pressure from traditional UK institutions, but it remains to be seen what the long-term, lasting impact that regulatory scrutiny – in the UK and beyond – will do to impact Binance’s broader operations.

Binance's native token BNB has stayed surprisingly resilient in recent months relative to the broader market, despite increased scrutiny from regulatory bodies. | Source: BNB-USD on TradingView.com

Related Reading | Brian Armstrong Says China’s Digital Currency Is A Threat To U.S.

Featured image from Pixabay, Charts from TradingView.com
Tags: barclaysBinancebritainuk
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Taylor Scott

Taylor Scott

Taylor specializes in crypto activity across sports and entertainment. With nearly a decade of engagement with cryptocurrency, Taylor has spent several years working in talent representation with musicians, comedians, and speakers, and achieved a Sports Business MBA in 2020.

Related Posts

Bitcoin

Bitcoin Price Could Fall To $8,000, Says Guggenheim CIO

43 mins ago
Ethereum Uniswap UNI UNIUSDT

How Ethereum’s Uniswap Reached A Milestone Of $1 Trillion In Trading Volume

4 hours ago
bitcoin, ethereum

Bitcoin, Ethereum Exchange Inflows Suggest Sell-Offs Are Far From Over

5 hours ago
Phemex Mobile App Offers First Class Crypto Trading Even When You’re On The Go

Phemex Mobile App Offers First Class Crypto Trading Even When You’re On The Go

9 hours ago
The Nightly Mint: Daily NFT Recap

The Nightly Mint: Daily NFT Recap

18 hours ago
XRP

XRP Has Broken Below Its Long Standing Support, What’s Next?

20 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Joins Plastiks in the Campaign to Efficiently Reduce Plastic Pollution

May 24, 2022

LBank Exchange Will List MegaDAO (MEGADAO) on May 25, 2022

May 24, 2022

NFT Crowdfunding & Fractionalization Protocol Confti Launched

May 24, 2022

MetaEstate Has Closed A Multi-Million Dollar Strategic Round of Funding Led by Matrixport and SevenX Ventures

May 24, 2022

YOP Finance Launches Three-Click Yield Farming Platform for DeFi

May 24, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.