Disaster Comes When Clear Junction Is Next Name To “Avoid” Binance

Binance has faced a number of regulatory issues over the past few weeks. Finally, the payment provider has Clear Junction Break works with Binance following similar steps taken by Barclays and Santander.

“Clear Junction can confirm that it will no longer facilitate Binance-related payments. The decision was made following the recent announcement by the Financial Conduct Authority that Binance is not authorized to conduct activities in the UK.

Clear Junction – that was one of #Binance‘s main payment partners in Europe – says it has “decided to suspend both pound and euro payments and will no longer facilitate or withdraw the crypto trading platform”. pic.twitter.com/mGQqZWIbhU

– Adam Samson (@adamsamson) July 12, 2021

The Financial Conduct Authority (FCA) is responsible for regulating excessive financial control in the UK. By the end of June 2021, the FCA had decided that Binance Markets Limited (BML) had to cease its UK operations. After the FCA moved, Binance found that BML was a separate division.

Barclays has discouraged customers from using payment cards to transact with Binance following news from the FCA as well as other regulatory concerns for Binance. Santander’s UK office later made a similar decision.

As of today, Clear Junction has followed suit:

“We have decided to suspend both GBP and EUR payments and will no longer allow deposits or withdrawals in favor of or on behalf of the cryptocurrency trading platform. Clear Junction operates in full compliance with FCA rules and guidelines regarding the processing of Binance payments.

Annie

According to Cointelegraph

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