Santander Bank will block customers from the UK payments on Binance

Santander British branch notified customers that will block payments for the Binance cryptocurrency exchange from their accounts. This is reported by Decrypt.

The accounter received by the owner of the Santander, an electronic letter who was at the disposal of the publication, says:

“We want to notify that from July 8, 2021 we will, as far as possible, block the delivery of funds for Binance from accounts in Santander”.

The institution explained the accepted measure of “help in defense” of customers and referred to the prevention of the financial regulator of Great Britain regarding the exchange.

The statement of financial supervision (FCA) reported that the Binance Markets Limited, which is part of the Binance group, is not allowed to engage in any regulated activities in the country.

The regulator representative confirmed Decrypt that FCA has claims Email Protection to the standards of the exchange in the fight against money laundering.

Thailand securities and exchanges also stated that Binance is working in a country without a license.

The management of the Kaiman Island Cash circulation initiated the company’s audit.

After a series of statements of supervisory authorities, the head of Binance, Chanpeng Zhao, spoke in an open letter about the company’s plans to ensure regulatory and legal customer protection.

Recall that in early July, he forbade customers to transfer funds to Binance one of the largest Barclays financial conglomerates in the UK.