Barclays bars UK customers from sending funds to Binance

Barclays, one of the UK’s largest financial conglomerates, barred customers from transferring funds to Binance using credit or debit cards. According to Twitter users, the restriction is in place.

That sucks @Barclays #Binance pic.twitter.com/kBhTZ7VQ99

— Crypto Nyte (@CryptoNyte0) July 5, 2021

On July 5, Barclays notified customers making deposits this year of the restrictions. The measure does not apply to withdrawals from Binance.

«This is necessary to help you keep your money safe,» the statement said.

Fairly big news this, as Barclays have been a supporter in nearly all transfers.
FYI Bank transfers not impacted. pic.twitter.com/1YtiAoiduk

— Adam (@TraderSkew) July 5, 2021

In late June, the UK Financial Conduct Authority (FCA) forbade Binance’s UK arm from conducting any regulated activity without the agency’s prior written approval.

The exchange’s representatives said that Binance Markets Limited is a separate legal entity and does not offer any services via the FCA site mentioned above.

Earlier, the Bitcoin exchange announced that it would discontinue serving residents of Ontario, Canada. The company advised users to close all active positions by December 31, 2021.

Earlier on July 1, the Cayman Islands Monetary Authority initiated an investigation into the exchange’s activities. The Japan Financial Services Agency also issued a warning.

On July 2, the regulator in Thailand accused Binance of operating without a license in the country.

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