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Barclays Blocks All Customer Payments to Binance

Published 07/06/2021, 09:52 AM
Updated 07/06/2021, 10:00 AM
Barclays Blocks All Customer Payments to Binance
BARC
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  • Barclays (LON:BARC) announced that they are blocking customers’ debit and credit cards to pay in Binance.
  • The UK Bank shares that they are stopping payments to Binance until further notice.
  • This decision came after the UK FCA announcement regarding Binance.

On Monday, Barclays announced that they are blocking customers’ debit and credit cards to make payments in Binance. The UK bank shared that it takes effect on July 5, 2021.

Consequently, the bank’s decision came after the U.K Financial Conduct Authority (FCA) announcement regarding Binance. On Friday, the FCA shared that Binance Markets Limited (BML) is not permitted to undertake any regulated activity in the UK.

However, the rule does not apply to foreign-based platforms. Binance clarified that BML is a separate legal entity and does not o...

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