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After Barclays And Santander Natwest A British Bank Has Blocked Payments To Binance Bitcoin News

After Barclays and Santander, Natwest, a prominent high street bank in the United Kingdom, has restricted payments to cryptocurrency exchange Binance.
Natwest’s decision comes after two other large British banks, Barclays and Santander, took similar steps to prevent funds from being transferred to Binance.
The banks intervened when the Financial Conduct Authority (FCA) of the United Kingdom issued a warning about the bitcoin exchange.
Natwest (NWG.L) has apparently become the latest financial institution in the United Kingdom to block funds transfers to Binance.
to halt payments to Binance, a cryptocurrency exchange
Natwest Group is the largest business and commercial bank in the United Kingdom, according to its 2020 annual report, with 19 million customers across the country.
as well as Ireland
According to a Natwest representative, the bank has noticed an increase in cryptocurrency investment scams targeting consumers across retail and corporate banking, notably via social media networks.
“To safeguard our clients from criminals exploiting these platforms, we’re temporarily lowering the maximum daily amount that a customer can transfer to bitcoin exchanges and barring payments to a small number of cryptocurrency asset firms where we’ve witnessed exceptionally high levels of fraud-related harm for our customers,” a spokesman said.
On June 26, the Financial Conduct Authority (FCA) of the United Kingdom issued a warning against Binance, indicating that the cryptocurrency exchange was not allowed to engage in regulated activities.
After the FCA’s warning, Barclays halted the transfer of funds to Binance.
Santander Bank followed suit and stopped processing payments to the cryptocurrency exchange.
Binance has halted GBP withdrawals and EUR deposits via SEPA bank transfers, as well as payment processors Faster Payments and Clear Junction.
Visa and Mastercard, for their part, stated they are monitoring Binance’s regulatory compliance and have not broken connections with the firm.
A rising number of regulators, including those in Hong Kong, Lithuania, Italy, Thailand, the Cayman Islands, and Japan, have issued warnings against Binance.
What are your thoughts on banks refusing to pay Binance?
Please share your thoughts in the comments box below.
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