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Binance Suspends Sterling Withdrawals Again: Report

The exchange's move reportedly came after Faster Payments ended its agreement with Binance.

Updated Sep 14, 2021, 1:24 p.m. Published Jul 13, 2021, 12:31 p.m.

Binance has suspended withdrawals of sterling after Faster Payments ended its agreement with the cryptocurrency exchange, Financial News reported.

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Faster Payments has ended its agreement with the exchange, FN said.
At the end of June, the payments network suspended its service for a while, preventing customers from making deposits or withdrawals.
The move came after the U.K.’s financial services regulator, the Financial Conduct Authority, said Binance wasn’t allowed to undertake regulated activities in the country.
The service was later reactivated.
Binance had not responded to an emailed request for comment by press time.

Binance U.K

Sheldon Reback

Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.