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Showing posts with label Future of CryptoCurrencies In UK. Show all posts
Showing posts with label Future of CryptoCurrencies In UK. Show all posts

Tuesday, July 6, 2021

The Top Uk Bank Barclays Stops Its Customers From Transferring Money To Binance Crypto Exchange

 


The Well Known British Bank, Barclays Will Not  Process The Bank Wire Transactions To One Of The Gigantic Cryptocurrency Exchange Binance. The Bank Notified Its Customers Stop Sending Funds To Binance As (The Uk Financial Conduct Authority(FCA) Issued Warnings About The Irregularities Of Binance Last Week. The Most Recent Step Of Barclays Will Hit Its Nearly 24 Million Customers  Around The Globe  


Barclay's The World Top Ranking Bank Of United Kingdom  Recently Confirmed That It Will Not Entertain Any Bank wIRE Transfer To Binance Followed By The Recent Decision Of (Fca) Uk. The Barclay’s  Immediate Decision Was Made In The Largest Interest Of Its Customers To Avoid Further Loss Of Money. The Bank Announced 



Barclays Suspends All Bank wires To Binance Exchange


However, the officials of Barclays Bank further explained that this recent statement does not affect the process of withdrawing funds from Binance to Barclays account. All precautionary measures have been taken in light of the (FCA) warning issued in the last weeks.

FCA Issued A Documented Notice To All Financial Institutions In The Uk That Binance Market Limited Is Not Legally Allowed To Carry Out Any Financial  Regulated Activity With The Uk Premises. However, All Uk Financial Institutions Are Closely Observing The Dispute To Bring The  Best Way Out for Its Customers. Moreover, It Is Not Just Barclays Who Stopped Its Customers To Fund Binance, Keeping the announcement of FCA in Mind The Natwest Bank Of Uk Fixed A Daily Transaction Limit On Its Customers Sending Money To the Binance Cryptocurrency Exchange Last Month.


In The Light Of Fca Announcement, Other Banks Including Tsb In The United Kingdom May Also Define Similar Measures To Its Customers Unless A Legal Framework Is Designed And Implemented By The Financial Regulatory Authorities Of Great Britain. Moreover, Binance Has Not Yet Any Authorized Platform In The Uk According To The Uk Officials. Meanwhile, The Most Recent Measures Will Affect More Than 24 Million Customers Worldwide.

Binance Under Close Observation In United Kingdom


The accused cryptocurrency exchange is confronting a criminal grievance recorded in Thailand. As indicated by the Thai Securities and Exchange Commission (SEC), the trade has no approval to work there. Comparative admonitions have been produced against the trade in the Cayman Islands, the Canadian region of Ontario, South Africa, and Japan. 


Additionally, there were reports about Binance being investigated by the Department of Justice (DOJ) last May under tax evasion suspicions. The trade has attempted to fortify its frameworks to follow existing guidelines. As of late, it was reported that it would be one of the primary trades to receive Traveler, an apparatus that robotizes the Financial Action Task Force's (FATF) Travel Rule consistency. The organization additionally employed a previous top controller and acting top of the U.S. Controller of the Currency, Brian Brooks toward the finish of April.


What would you say about Barclays stoping its customers from sending money to Binance? Do let us know your opinions in the comments section.