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Binance crypto exchange’s regulatory woes continue to mount each day. After regulatory warnings from the governments of five different nations, its key European payment partner has severed ties owing to the exchange’s ongoing standoff with UK’s top regulatory watchdog FCA.
Coin Junction said it has suspended both Pounds and Euro payment and would no longer facilitate any deposits and withdrawals for the crypto exchange. The payment processor cited FCA’s recent regulatory caution as the reason behind the suspension.
“The decision has been made following the Financial Conduct Authority’s recent announcement that BINANCE is not permitted to undertake any regulated activity in the UK.”
Clear Junction – which had been one of #Binance's key payments partners in Europe – says it has "decided to suspend both pound and euro payments and will no longer be facilitating deposits or withdrawals in favour of or on behalf of the crypto trading platform." pic.twitter.com/mGQqZWIbhU
— Adam Samson (@adamsamson) July 12, 2021
Binance had earlier downplayed the FCA warning as a compliance warning and had suggested that it was a normal routine. Earlier FCA had issued a warning against Binance suggesting it was not cleared by the regulatory body to carry out operations in the country.
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