On Monday, global payment solutions provider Clear Junction announced that it has stopped processing transactions for Binance. Clear Junction’s move was triggered by the recent warning from the Financial Conduct Authority (FCA), according to a blog post written about the decision.
Clear Junction stops processing payments for Binance citing recent FCA warning
- The warning from the Financial Conduct Authority (FCA) about Binance’s operation in the UK has created many problems for the company. On Monday, global payment solutions provider Clear Junction announced that it was no longer processing payments for the crypto company.
- “Clear Junction can confirm that payments related to Binance will no longer be facilitated,” said the company’s blog post on Monday. The blog post also cites the FCA’s recent warning.
- “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 crypto trading platform,” the blog announcement continues. “Clear Junction is acting in full compliance with FCA rules and regulations with respect to processing payments from Binance.”
- The Clear Junction news follows recent moves by Barclays and Santander Bank. In addition, on July 6, 2021, Binance suspended euro deposits via SEPA bank transfer and at the same time discontinued a US regulator.
- Binance CEO Changpeng Zhao recently spoke about regulatory policy, stating that “compliance is a journey – especially in new sectors like crypto”.
- On Monday, Changpeng Zhao, also known as CZ, tweeted a picture of himself dressed and said: “Do I already look more regulated? Just found out that I have no dress shoes at all. So went with sneakers. “
- Binance also had problems with the regulatory climate in Thailand, the Cayman Islands, Japan, Ontario, and South Africa.
What do you think of Clear Junction declaring that it does not process payments for Binance? Let us know what you think on this matter in the comments below.
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