Binance will stop your sterling deposits and withdrawals, a company spokesperson said on Tuesday, a month after the crypto exchange transfers in dollars will cease.
Binance was informed by its partner for GBP transfers, Paysafe, that it would discontinue its services from May 22, the spokesperson said, affecting all of the firm’s clients. British currency transfers for new users stopped on Monday, he said.
“Binance will ensure that affected users can continue to access their sterling balances”said the spokesman, adding that the change “affects less than 1% of Binance users.”
The world’s largest cryptocurrency platform, with more than 128 million clients, did not give details on the number of users the measure will affect.
Paysafe did not immediately respond to a Reuters request for comment. The company offers the service through British payment network Faster Payments, which also had no immediate comment.
The cessation of pound transfers, first reported by crypto news outlet The Block, comes after Binance last month suspended all dollar bank transfers amid a growing crackdown on cryptocurrencies by cryptocurrencies. US authorities.
A spokesperson for Skrill, the Paysafe unit that works with Binance, told cryptocurrency website Decrypt that “The UK regulatory environment in relation to cryptocurrency is too challenging to offer this service at this time, so this is a prudent decision on our part taken in an abundance of caution.”
The British financial watchdog said last year that it lacked the power to prevent Binance from accessing the fast payment network through PaySafe.
Source: Reuters
Source: Gestion
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