Binance Denied Serving Transactions In Europe

Clear Junction, which handled Binance transactions in Europe, announced it was suspending its cooperation withcryptoexchanges. This information was posted on the Clear Junction website on Monday.

“Clear Junction can confirm that the firmwill no longer service Binance-related payments. "The decision was made following the recent notification from the Financial Conduct Authority (FCA) that Binance is not allowed to engage in regulated activities in the UK."

The British regulator at the end of June demandedthat Binance ceases to engage in controlled activities on its territory. Earlier, Binance withdrew the application for registration as a crypto company from the FCA, so it will not be able to engage in unregulated activities, for example, servicing trading on the spot market.

“Although we do not regulate crypto assets such asbitcoin or ether, we do regulate certain derivatives of cryptoassets (such as futures contracts, contracts for difference and options), as well as cryptoassets that we consider to be securities. The firm must be authorized by us to promote or sell such products in the UK, ”the department said.

Clear Junction notes that it has decided to stop all British Pound (GBP) and Euro (EUR) payments to Binance, including deposits and withdrawals.

“Clear Junction is fully compliant with FCA requirements and guidance in processing Binance payments,” it said.

Also, according to observations, the withdrawal of pounds through the British payment system Faster Payments was again unavailable for Binance users.

Sterling withdrawals via Faster Payments appears to be suspended again -> pic.twitter.com/OpSUsXsiQI

— Adam Samson (@adamsamson) July 12, 2021

Earlier, Binance announced the suspension of accepting Euro deposits through the SEPA mechanism.

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