fbpx

AIBC

UK Fiat transactions blocked on Binance

Posted: Jun 30, 2021 13:19 Category: Europe , Regulatory , Posted by
Stanley Yin

Clients were unable to withdraw Pound Sterling after new regulatory measures were imposed on Binance

Since yesterday, UK citizens have been unable to withdraw British pounds from the world’s biggest crypto exchange Binance, reportedly not receiving any assistance from customer service. A statement from the operators has yet to come.

The malfunction follows a ban on any regulated activities of Binance in the UK by the FCA, however transactions were not included in the ban. It was precisely directed to the trading of derivates and tokenized assets, such as NFT stocks.

Additionally, Britain’s Natwest Group capped the daily amount of money customers may send to exchanges, due to concerns over investment fraud.

Nonetheless, transactions were not announced to be halted, and to the discomfort of British crypto traders, there is no further feedback aside of a “down for maintenance” notification. Normally, such maintenance operations are announced via social media, which has not been the case.

Next up: Malta Week

Don’t miss out on amazing networking opportunities and exclusive industry insights at Malta Week. Four leading shows will bring the best of the business back-to-back to a first-class meeting point. Malta Week will consist of SiGMAAIBCMed-Tech World and AGS, each presenting the top developments of their focal industries.

The cross-collaboration of each brand make Malta Week the number one destination for leading think-tanks of the gaming sector, emerging tech, digital health and digital marketing. The middle of the Mediterranean is the perfect place for multi-faceted business deals and face-to-face conversations with leading affiliates, policymakers and thought leaders.

Related Posts

Jesse Powell, CEO of Kraken…

Kraken is currently the fourth-largest crypto exchange, after Binance, FTX and Coinbase. The CEO of Kraken, Jesse Powell, is resigning…