British bank Barclays stopped payment

Binance crypto exchange is having more and more problems. British bank Barclays has informed its customers that they will no longer pay there. There appears to be much more than a temporary security measure behind it.

Crypto exchange Binance is getting more and more on the collar. Meanwhile, several regulatory authorities around the world have announced that the company does not have an official license to trade in crypto assets – threatening a ban. Now major British bank Barclays is also distancing itself. She has informed her clients that she will no longer allow Binance to make payments.

Effective July 4, Barclays intends to stop credit and debit card payments to Binance. However, this action does not affect the ability of customers to withdraw money from Binance

According to the email from the company to the crypto portal coindesk is present. Last week, different reports from users had already told about this step. there was a lot on twitter from shared newsWhich Barclays customers received from their bank.

Since you have made a payment to Binance this year, we would like to inform you that we are stopping credit/debit card payments until further notice. We do this to keep your money safe

, so the wording of such a message. Several Twitter users reacted with frustration and aggression amid posts from notified Barclays customers.

Barclays directs customers to FCA website

The bank has already responded to the flood of negative comments. Links to the website of the bank’s social media pages Financial Conduct Authority (FCA) of the United Kingdom for “more information about Binance and investing in crypto assets in general”. Not long ago, the FCA announced that Binance would no longer be allowed to conduct regulated activities in the UK. Other officials on other continents, including Japan and Canada, have issued similar warnings over the past few weeks. In Thailand, Binance was also threatened with criminal consequences.

But not only Barclays, other British banks have switched to a sort of security mode when it comes to crypto exchanges. According to media reports, banks such as Monzo and Starling also prevented their customers from transferring money on cryptocurrency platforms such as Binance and SwissBorg. These customers also express their displeasure and feel protected.

Does anyone know of a bank I can switch to that doesn’t treat me like Big Brother?

Alluding to George Orwell’s dystopia, according to a Swissborg customer 1984. Online-only bank Starling even said such transactions were “suspected of a high degree of financial crime” after claiming it had suspended all payments to cryptocurrency exchanges.

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About the Author: Forrest Morton

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