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The legal troubles surrounding Binance look to display no indications of stopping when lately, payment firm Clear Junction announced it was suspending operations with Binance following very similar moves from Barclays and Santander.
“Clear Junction can confirm that they will no longer support Binance-related payments,” Financial Times’ Adam Samson exposed on Twitter July twelve. “This decision follows the recent announcement by the UK Financial Conduct Authority that Binance is not authorized to conduct any regulatory activities in the UK.”
Clear Junction – which has been 1 of #Binance‘s essential payments partners in Europe – says it has “decided to suspend both pounds and euro payments and will no longer be facilitating deposits or withdrawals in favor of or on behalf of the crypto trading platform.” pic.twitter.com/mGQqZWIbhU
— Adam Samson (@adamsamson) July 12, 2021
The Financial Conduct Authority (FCA) is accountable for extreme monetary controls in the United kingdom. By the finish of June 2021, the FCA announced that Binance Markets Limited (BML) need to cease its United kingdom operations. In response to FCA’s move, Binance emphasized that BML is a separate division.
Following the ruling from the FCA, mixed with other regulatory considerations surrounding Binance, monetary providers company Barclays banned shoppers from employing payment cards with Binance. Next, Santander’s United kingdom branch also made the decision to suspend consumer actions relevant to the world’s biggest cryptocurrency exchange.
And these days, it truly is Clear Junction’s flip to do the very same. The statement from Clear Junction posted by Adam Samson adds:
“We have decided to suspend both GBP and EUR payments, and will not support deposits or withdrawals in favor of or on behalf of a cryptocurrency trading platform. Clear Junction operates in full compliance with FCA regulations and guidelines regarding the processing of Binance payments.”
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According to CoinTelegraph
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