Santander will not allow funds to be transferred to Binance

Another bank has joined the blockade of transfers to the largest cryptocurrency exchange.

According toa letter published by Santander clients, with 8In July, the bank will "if possible" stop outgoing transactions to Binance "for your safety." Santander cites a notice from the UK Financial Conduct Authority (FCA) that the exchange does not have its permission to serve residents of the country.

Previously, transfers to Binance were similarly restricted by Barclays. Both banks still allow withdrawals from the exchange to client accounts.

“At the moment, we will not restrictpayments from Binance to your account. We took these steps because we want to do our best to protect you and help you keep your money safe. We will continue to monitor the situation and will notify you if something changes, ”writes Santander.

Santander previously announced that it will revise its exchange policy amid "a very large increase in the number of customers looking to buy cryptocurrencies."

Also this week, Binance announcedthe termination of accepting incoming payments through the mechanism of the single payment area in euros (SEPA). Binance linked the Barclays decision to ban transactions with a misinterpretation of the words of the regulator in the bank.

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