Santander follows Barclays, restricts payment to Binance

There seems to be an organized onslaught by financial institutions and regulators against the exchange platform Binance, particularly in the UK.

Santander has announced it will no longer support payments to Binance; becoming the second UK bank to restrict transfers to the crypto exchange.

The bank informed customers via email that payment from Santander to Binance would be stopped “wherever possible”.

Santander’s email to customers referenced recent warnings by the Financial Conduct Authority which ordered Binance to quit all “regulated activity” within the UK.

Via: Forbes

In the same vein as Barclays, Santander will allow customers to withdraw funds from Binance to their Bank accounts.

A blog post from Binance CEO Changpeng Zhao maintained that the company is willing to partner with”regulators”.

“We hope to clarify and reiterate our commitment to partner with regulators and that we are proactively hiring more talent, putting in place more systems and processes to protect our users.”

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About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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