Binance’s UK clients unable to withdraw, deposit pounds via Faster Payments, Financial Times report
Cryptocurrency exchange Binance’s clients in the United Kingdom were unable to withdraw or deposit pounds through the payment system known as Faster Payments, the Financial Times published on Monday.
The power to remove sterling from the platform through the Faster Payments system had been “suspended for maintenance”, Binance stated on its main exchange Binance.com, according to the Financial Times’ published article.
The news came a day after the Financial Conduct Authority (FCA), Britain’s financial regulatory body, prohibited the cryptocurrency exchange from conducting further regulated operations within the UK.
The digital asset firm did not give an immediate response when Reuters requested a comment, while Faster Payments could not be contacted.