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Binance's Key Payments Partner Breaks Ties With Exchange Amid Regulatory Conflict


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Global Payment Solution Provider Clear Junction has confirmed which will no longer facilitate payments in pounds or euros to Binance.

It states that the recent notice from the Financial Conduct Authority about the London-based entity of the exchange is the reason behind the decision:

“Clear Junction can confirm that it will no longer facilitate payments related to Binance. The decision was made following the recent announcement by the Financial Conduct Authority that Binance may not engage in any regulatory activity in the UK. "

Last week, Binance also halted euro bank deposits from the Single Euro Payment Area (SEPA) network, citing events that are "beyond" its control.

The world's largest exchange was able to process deposits from both SEPA and the UK Faster Payments Service (FPS) with the help of Clear Junction.

Now that the partnership is over, withdrawals from Faster Payments have been suspended for maintenance.

As reported by Crypto Report, both Santander UK and Barclays banned their clients from sending transfers to the conflicting exchange after the FCA warned that Binance Market Limited could not conduct any regulated activity in Britain.

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