NatWest cuts payment channels to Binance, citing regulatory uncertainty
NatWest cuts payment channels to Binance, citing regulatory uncertainty
"Information technology'south like people tin can't spend their money on what they want anymore," one Twitter user noted regarding NatWest'south action against Binance.
7804 Full views
78 Total shares
NatWest, a major United Kingdom-based retail and commercial bank, has blocked all credit and debit menu payments to crypto exchange Binance until further detect, the bank confirmed to Cointelegraph on Thursday.
"All credit and debit carte transactions to Binance have been blocked. We have been limiting payments to Binance for a number of weeks," a spokesperson for NatWest said, adding that resuming Binance support volition exist continually under review.
The representative said that the depository financial institution has seen a high level of cryptocurrency investment scams targeting its customers across retail and business banking, particularly through social media sites. "Nosotros're temporarily reducing the maximum daily amount that a client can send to cryptocurrency exchanges likewise as blocking payments to a minor number of cryptocurrency asset firms where we take seen particularly significant levels of fraud. Our customers will yet exist able to take cryptocurrencies as forms of payment," the spokesperson noted.
The motility has triggered widescale outrage in the crypto community, with many disgruntled NatWest clients expressing their discontent with the banking concern willing to make up one's mind how to spend their money.
I welcome communication on how I spend & invest my money here in the UK, merely practice not strength obstruction. This is and so far from the solution to the problems yous are claiming information technology solves within @binance & cryptocurrency scams @NatWest_Help. pic.twitter.com/cKKwM2UQKY
— FEGMike (@FegMike) July 22, 2022
Some crypto enthusiasts expressed disappointment with Natwest's move, with 1 Twitter user stating that "It's like people can't spend their money on what they want anymore." 1 reported NatWest user even complained, "I will be removing my long term custom, and I encourage others to do the same. I have not authorised them to make financial decisions on my behalf."
Binance did not immediately respond to Cointelegraph's asking for comment.
Related: Binance stops stock token sales, 'effective immediately'
NatWest has previously restricted crypto services to its users. The company introduced a daily limit for crypto purchases by its clients in late June, targeting a number of crypto exchanges including Binance.
The bank has followed the example of Barclays, the British multinational universal depository financial institution that started blocking payments to Binance in tardily June until further find. A spokesperson for Binance subsequently emphasized that the Fiscal Carry Authorisation's recent alarm about the business firm only applied to Binance Markets Limited, a separate legal entity from the main global exchange that operates through Binance.com.
Source: https://cointelegraph.com/news/natwest-cuts-payment-channels-to-binance-citing-regulatory-uncertainty
Posted by: mccormacktookents.blogspot.com
0 Response to "NatWest cuts payment channels to Binance, citing regulatory uncertainty"
Post a Comment