{"id":291399,"date":"2021-07-05T22:20:00","date_gmt":"2021-07-05T19:20:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-disappointed-by-barclays-unilateral-action-to-block-customer-payments\/"},"modified":"2021-07-05T22:20:00","modified_gmt":"2021-07-05T19:20:00","slug":"binance-disappointed-by-barclays-unilateral-action-to-block-customer-payments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-disappointed-by-barclays-unilateral-action-to-block-customer-payments\/","title":{"rendered":"# Binance disappointed by Barclays\u2019 \u2018unilateral action\u2019 to block customer payments"},"content":{"rendered":"

“# Binance disapp<\/a>ointed by Barclays\u2019 \u2018unilateral action\u2019 to block customer payments <\/strong>”
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Barclays\u2019 decision to stop facilitating British customers\u2019 payments to Binance has been met with criticism by the cryptocurrency exchange after a spokesperson told Cointelegraph that the bank acted with \u201can inaccurate understanding of events.\u201d\u00a0<\/p>\n

“We are disappointed that Barclays appears to have taken unilateral action based on what appears to be an inaccurate understanding of events,\u201d the spokesperson said, referring to a recent edict by the United Kingdom\u2019s Financial Conduct Authority, or FCA, barring Binance Markets Limited from operating in the country. <\/p>\n

\u201cThe FCA notice relates to [Binance Markets Limited], which is a company incorporated in the UK and regulated by FCA,\u201d the spokesperson said, adding that BML is a separate legal entity that doesn\u2019t offer any products or services through the main Binance website.<\/p>\n

The FCA notice had no bearing on user deposits on the main Binance website, the spokesperson said, adding that, \u201cWe have always taken the security of our users\u2019 money very seriously.\u201d<\/p>\n

Binance said it welcomes open dialogue with Barclays to discuss the matter further:<\/p>\n

“We take our compliance obligations very seriously, and we are committed to working collaboratively with regulators to shape policies that protect consumers, encourage innovation, and move our industry forward.”<\/p><\/blockquote>\n

Related: <\/em><\/strong>Binance faces regulatory upheaval as lawmakers target \u2018global\u2019 exchanges<\/em><\/strong><\/p>\n

Binance has been caught in the regulatory crossfire as of late, with several jurisdictions around the world taking stricter measures to limit the exchange\u2019s operations. Over the past two weeks, financial regulators in Japan and the United Kingdom have warned users about Binance\u2019s regulatory status in their respective countries. Meanwhile, Binance announced it would no longer operate in the Canadian province of Ontario after regulators there implemented stricter regulations targeting cryptocurrency exchanges. <\/p>\n