Binance resumes fiat withdrawals with faster payments in the UK

Leading cryptocurrency exchange by volume, Binance, has restored sterling withdrawals using its faster payments network.

On June 28, Binance has uploaded a notification revealing withdrawals with faster payments, which is a popular interbank payments platform based in the United Kingdom, It has been suspended for maintenance.

The news came in the same week that the UK’s Financial Conduct Authority (FCA), the UK’s financial watchdog, ordered Binance Markets Limited and Binance Group to cease all regulated derivatives and securities-related activities in the country.. This led many to conclude that the sudden and seemingly unclear suspension of faster payments could be a sign of a new problem for the exchange.

According to a Reuters report on June 30, an appointment vocero de Binance, Withdrawals via Faster Payments were restored on 29 June along with bank card purchases for UK users.

The spokesperson also said the apparent crackdown on the FCA does not affect the ability of British residents to access services on its website.

notice published It stated on the FCA website last year that Binance Markets Limited should not “promote or accept any new retail customer loan applications through the operation of its electronic lending system,” nor promote Binance, BinanceUK or EddieUK as an FCA. Regulated platforms for cryptocurrency trading.

Binance.co.uk uploaded Notice It states that Binance Markets Limited has not been able to conduct regulated activities in the UK, as per FCA demands:

“Binance.com is a platform that offers many products and services to customers all over the world. Some of these products and services are regulated outside the UK, while others are not. Binance Markets Limited is a UK-based company. The UK has not implemented After any activity, BINANCE MARKETS LIMITED is not authorized to conduct any regulated activity in the UK.”

At Junior D 2020, Binance ad It has acquired a “FCA-regulated entity,” noting that Binance.UK will be operated by Binance Markets Limited in the future.

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