The United Kingdom leading bank Barclays outlined earlier on Monday that it’s blocking its users from using their debit and credit cards to form payments to crypto exchange Binance.
“With effect from today, Barclays intends to prevent credit and debit payments to Binance,” Barclays revealed within an official announcement. “This action doesn’t impact on the power for users to withdraw their funds from Binance.”
The bank has been contacting users who have used their cards on Binance this year, advising them it’s stopping payments until further notice, consistent with tweets.
The decision follows shortly after the United Kingdom FCA [Financial Conduct Authority] revealed that Binance wasn’t allowed to conduct any regulated activities within the country.
Regulators in other markets along with Japan and Canada have offered similar warnings in recent weeks, with one in Thailand even threatening criminal charges.