Binance suspends deposits and withdrawals via GBP transfers after being hacked by partner

Binance, the world’s largest cryptocurrency exchange, said that from May 22, customers will no longer be able to deposit and withdraw directly using British pounds via bank transfers.

A Binance spokesperson noted, “Paysafe, our fiat currency partner, provides Binance users with GBP deposits and withdrawals via bank transfer and card, but we’ve been informed that they will no longer be able to offer these from May 22nd. Serve.” “

Binance pointed out that from now on, new users will not be able to use GBP deposits to open accounts on the exchange, and will suspend the GBP deposit and withdrawal channels for all users on May 22. The spokesperson estimated that less than 1% of Binance users would be affected, and the team is working hard to find other alternatives.

Binance initially listed GBP trading pairs for the first time in 2020 and launched a trading platform for UK users, but was subsequently accused by the UK Financial Conduct Authority (FCA) of operating without a license in June 2021 and was forced to stop offering cryptocurrencies and British cryptocurrency. In terms of asset-related services, it was not until March last year that it reached a cooperation with PaySafe’s e-wallet Skrill, and the British pound deposit and withdrawal channel was reopened.

A Skrill representative revealed, “We have reached an agreement with Binance to stop offering their embedded wallet solution to their UK customers.” He explained:

This is a decision we made after careful consideration. Providing this service is extremely challenging at this stage given the UK’s cryptocurrency regulatory environment.

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Source of information: Compiled from COINWORLDSTORY by 0x Information, the copyright belongs to the author News Expert, and shall not be reproduced without permission

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