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Clear Junction Cuts Ties with Binance Due to FCA Regulatory Crackdown

Published

3 years ago

July 12, 2021

Binance has been ban from operating in the Uk by the FCA

Binance’s Fiat payment facilitating company, Clear Junction has confirmed that it won’t be processing Fiat payments on behalf of the world’s largest cryptocurrency exchange. Clear junction is regarded as Binance’s key partner in Europe for the processing of deposits and withdrawals on its trading platform.

However, the company has decided to suspend the payments for now given the reason for the recent announcement by the Financial Conduct Authority that Binance was not licensed to operate within the country.

“Clear Junction can confirm that it will no longer be facilitating payments related to Binance. The decision has been made following the Financial Conduct Authority’s recent announcement that Binance is not permitted to undertake any regulatory activity in the UK.”

“We have decided to suspend both Pound (GBP) and Euro (EUR) payments and will no longer be facilitating deposits or withdrawals in favour of or on behalf of the crypto trading platform.”

https://twitter.com/adamsamson/status/1414595163301756928?s=19

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