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Zfron
2021-06-29

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Binance customers unable to withdraw, deposit pounds via UK's Faster Payments: FT

LONDON (REUTERS) - Customers of cryptocurrency exchange Binance in the United Kingdom have lost acce

Binance customers unable to withdraw, deposit pounds via UK's Faster Payments: FT

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBinance customers unable to withdraw, deposit pounds via UK's Faster Payments: FT\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-29 08:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/banking/binance-customers-unable-to-withdraw-deposit-pounds-via-uks-faster-payments-ft><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LONDON (REUTERS) - Customers of cryptocurrency exchange Binance in the United Kingdom have lost access to withdrawing and depositing pounds through a system known as Faster Payments, the Financial ...</p>\n\n<a href=\"http://www.straitstimes.com/business/banking/binance-customers-unable-to-withdraw-deposit-pounds-via-uks-faster-payments-ft\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"http://www.straitstimes.com/business/banking/binance-customers-unable-to-withdraw-deposit-pounds-via-uks-faster-payments-ft","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147678858","content_text":"LONDON (REUTERS) - Customers of cryptocurrency exchange Binance in the United Kingdom have lost access to withdrawing and depositing pounds through a system known as Faster Payments, the Financial Times reported on Monday (June 28).\nThe ability to remove sterling from the platform through Faster Payments had been \"suspended for maintenance\" the digital asset firm said on its main exchange Binance.com, according to the report.\nThe news came days after Britain's financial regulator Financial Conduct Authority (FCA) banned the cryptocurrency exchange's UK operations.\nBinance did not immediately respond to a Reuters request for comment, while Faster Payments could not be reached.\nA growing number of crypto asset firms are abandoning attempts to register with Britain's financial regulator as global scrutiny of the rapidly-growing sector intensifies.\nData on registrations shows the number which have been ditched has jumped by a quarter in less than a month, an FCA spokesperson said on Monday, adding that Binance withdrew its application in mid-May, without giving further details.\nCrypto-related firms have since January had to register with the FCA, which oversees compliance with laws designed to prevent money laundering and terrorist financing, before doing business.\nJust six firms have registered, with dozens more still being assessed but not yet deemed \"fit and proper\". Around 64 have withdrawn their applications, the spokesperson said, up from 51 in early June.\nA Binance spokesperson declined to comment, but said it worked closely with regulators and law enforcement \"to further the security and sustainability in the industry while providing the best services and protection to our users\".\nRegulatory concerns about cryptocurrencies such as Bitcoin include their potential for use in money laundering and other illegal activities, as well as potential risks to consumers.\n'Decentralised'\nBinance, run by Canadian Changpeng Zhao, is one of the most significant players in the crypto world. It offers services ranging from digital token trading to derivatives, as well as emerging technology such as tokenised versions of stocks.\nYet its regulatory structure is opaque.\nIts spokesperson declined to comment on where its holding company is based, describing Binance as \"decentralised\".\nBinance has been targeted by regulators across the world in recent months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":175,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}

Binance customers unable to withdraw, deposit pounds via UK's Faster Payments: FT

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