Cryptocurrency Binance to Stop Sterling Transfers | – #Cryptocurrency #Binance #Stop #Sterling #Transfers
LONDON, March 14 (Reuters) – The world’s largest cryptocurrency exchange dollars Binance is halting sterling deposits and withdrawals, a company spokesperson said on Tuesday, a month after suspending transfers.
According to the spokesperson, Binance has been informed by its sterling transfer partner, Paysafe, that it will suspend its services from May 22, which will affect all Binance customers.
Sterling transfers were suspended for new users on Monday, he said.
“Binance will ensure that affected users can still access their GBP balances,” the spokesperson said, adding that the change “affects less than 1% of Binance users.”
Binance, which has more than 128 million customers, did not provide details on the number of customers affected by the move. The company is working to find an “alternative solution” for sterling transfers, the spokesperson said.
Cryptocurrency for the first time news The suspension of sterling transfers, reported by The Block, is the latest obstacle to Binance’s access to traditional currencies. Binance last month USA All in the face of increasing pressure against cryptocurrency by the authorities dollars bank stopped transferring.
Latest UpdatesFuture of MoneycategoryBitcoin rises to highest level since June 2022, article with imageFuture of MoneycategoryNatWest limits customer crypto transfers, fraud concerns, article with image
See 2 more stories
is loaded
The Justice Department is also investigating Binance, run by billionaire CEO Changpeng Zhao, on suspicion of money laundering and sanctions violations, Reuters previously reported news gave. A senior Binance executive told The Wall Street Journal and Bloomberg last month that Binance USAwill pay fines to settle investigations into the company.
USA Binance’s access to the dollar has hit another hurdle after the Securities and Exchange Commission said it is considering taking action against the company that issued the stablecoin BUSD. The move is about 6 at the beginning of this month billion dollars caused abroad.
The significance of sterling funding for Binance is unclear. The company does not publicly disclose its finances, keeping the core of the business – the giant Binance.com exchange – largely hidden from the public eye.
Paysafe did not immediately respond to Reuters’ request for comment. The company’s service through the UK’s Faster Payments payment network offer does not immediately comment.
A spokesperson for Skrill, the Paysafe unit that works with Binance, told cryptocurrency website Decrypt that “the UK’s cryptocurrency regulatory environment currently offer It is very difficult to do and therefore it is a prudent decision taken by us. an abundance of prudence’.
Britain’s financial watchdog said last year it did not have the power to stop Binance from accessing the Faster Payments network through Paysafe.
The UK’s Financial Conduct Authority (FCA) warned consumers in June 2021 that Binance Britain services regulated by offer does not have permission “in any form” to do.
The FCA did not immediately respond to a request for comment.
Reporting by Tom Wilson and Elizabeth Howcroft; Edited by Jason Neely
Our standards: Thomson Reuters Trust Principles.
Elizabeth Howcroft
2023-03-14 17:44:49
Source – reuters
Translation“24 HOURS”