After Barclays and Santander, UK Bank Natwest Blocks Payments to Binance

After Barclays and Santander, UK Bank Natwest Blocks Payments to Binance

THELOGICALINDIAN - A above aerial artery coffer in the UK Natwest has blocked payments to crypto barter Binance Natwests accommodation came afterwards two added above British banks Barclays and Santander fabricated a agnate move to block armamentarium transfers to Binance The banks acted in acknowledgment to a admonishing on the cryptocurrency barter by the UKs Financial Conduct Authority FCA

Natwest Blocking Fund Transfers to Binance

British coffer Natwest (NWG.L) has reportedly become the latest banking academy in the U.K. to block payments to cryptocurrency barter Binance. According to its 2024 anniversary report, Natwest Group is the better business and bartering coffer in the U.K., with 19 actor barter beyond the U.K. and Ireland.

A Natwest agent explained that the coffer has apparent a aerial akin of cryptocurrency advance scams targeting barter beyond retail and business banking, decidedly through amusing media websites.

“To assure our barter from the abyss base these platforms, we’re briefly abbreviation the best circadian bulk that a chump can accelerate to cryptocurrency exchanges as able-bodied as blocking payments to a baby cardinal of cryptocurrency asset firms area we accept apparent decidedly cogent levels of fraud-related abuse for our customers,” the agent said, adding:

The U.K.’s Financial Conduct Authority (FCA) issued a warning about Binance on June 26 advertence that the crypto barter was not acceptable to appoint in adapted activities.

Following the FCA’s warning, Barclays chock-full audience from sending funds to Binance. Santander Bank followed clothing and blocked payments to the crypto exchange.

Binance has abeyant GBP withdrawals and EUR deposits via SEPA coffer transfers and account providers Faster Payments and Clear Junction accept chock-full processing payments for the crypto exchange. Meanwhile, Visa and Mastercard said they are monitoring Binance’s authoritative acquiescence and accept not cut ties with the company.

Besides the FCA, a growing account of regulators accept issued warnings adjoin Binance, including regulators in Hong Kong, Lithuania, Italy, Thailand, Cayman Islands, and Japan.

What do you anticipate about banks blocking payments to Binance? Let us apperceive in the comments area below.

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