Binance’s Key Payment Partner in Europe Cut Ties Over Regulatory Concerns
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 UKs 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 FCAs recent regulatory caution as the reason behind the suspension. “The decision has been made following the Financial Conduct Authoritys recent announcement that Binance is not permitted to undertake any regulated activity in the UK.” 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. Following the FCA warning, Binance had suspended the Sterling Pound deposit and withdrawals via faster payments for two days without any prior warning. However, the services were back within two days. Sterling Pound Withdrawl on Binance Suspended Again The Sterling Pound withdrawal via faster payment is suspended again after Coin Journal partnership termination. Binance has not commented on the partnership