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U.K. Banking Giant NatWest Bans Payments to Binance


u.today 22 July 2021 12:15, UTC
Reading time: ~1 m

U.K. banking giant NatWest Group has blocked all of its customers from moving payments to Binance, the largest cryptocurrency exchange in the world by reported trading volumes.

The bank has informed its customers that the decision was made in response to regulatory uncertainly surrounding the exchange in the U.K:

With an increase in scams relating to cryptocurrency and regulatory uncertainly around Binance in the U.K., we want to make sure that your money is safe. That’s why we’ll be declining all credit and debit card payments to them until further notice. 

NatWest Group has now joined Santander UK and Barclays, two other major British banking institutions, in halting payments to Binance.

In late June, Binance Markets Limited, a London-based entity of the exchange, received a warning from the Financial Conduct Authority (FCA) about not being able to conduct any regulated activity in the U.K.

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