The decision of the financial institution is connected with a warning issued by the British financial regulator (FCA) at the end of June.
The British division of the Spanish bank Santander has notified customers of the suspension of operations with the cryptocurrency exchange Binance.
Users will no longer be able to send funds to the site from their Santander UK accounts. The bank’s decision is related to a warning issued by the British financial regulator (FCA).
You have changed your policy. It's ridiculous that you will not allow customers to spend their own money on what they choose. Considering closing all my Santander accounts because of this…..terrible customer service
— Jmb4 (@Jmb417) July 8, 2021
On July 7, it became known that one of the largest financial conglomerates in the world, Barclays, prohibited clients in the UK from transferring funds to Binance.
Users have lost the ability to replenish their accounts on the crypto exchange from bank debit and credit cards, but the restriction does not apply to withdrawals.
At the end of June, the FCA announced that the largest crypto exchange in terms of trading volume, Binance, cannot operate in the country.
The regulator claims that the service provider of Binance.com is Binance Markets Limited, part of the Binance Group, which is not licensed to operate in the UK.
We are aware of recent reports about an FCA UK notice in relation to Binance Markets Limited (BML).
BML is a separate legal entity and does not offer any products or services via the https://t.co/QILSkzx7ac website. (1/4)
— Binance (@binance) June 27, 2021
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