On Monday, Clear Junction, a global payment solutions provider, announced that it would stop processing transactions for Binance. According to a blog post about the decision, Clear Junction’s move was triggered by a recent warning from the Financial Conduct Authority (FCA).
Clear Junction stopped processing Binance payments on the grounds of the most recent FCA warning
- The warning issued by the Financial Conduct Authority (FCA) to Binance, which operates in the United Kingdom, has caused many problems for the company. On Monday, Clear Junction, a global payment solutions provider, revealed that it no longer processes payments for the crypto company.
- “Clear Junction can confirm that it will no longer facilitate payments related to Binance,” the company said in a blog post on Monday. In addition, the blog post also cited FCA’s recent warnings.
- The blog announcement further explained: “We have decided to suspend payments in pounds and euros and will no longer facilitate deposits or withdrawals that support or represent crypto trading platforms.” “Clear Junction’s behavior is in full compliance with FCA’s handling of Binance payments. Regulations and guidance.”
- The Clear Junction news was released after the recent moves by Barclays Bank and Santander Bank. In addition, on July 6, 2021, Binance suspended euro deposits via SEPA bank transfers and also hired US regulators.
- Binance CEO Changpeng Zhao recently discussed regulatory policies and explained that “Compliance is a journey-especially in new areas such as encryption.”
- On Monday, Changpeng Zhao also posted a picture of himself neatly dressed up on Twitter. Say: “Do I look more standardized? Only to find out that I didn’t wear sandals at all. So I used sports shoes.”
- Binance also has problems with the regulatory environment in Thailand, the Cayman Islands, Japan, Ontario and South Africa.
What do you think of Clear Junction explaining that it will not process Binance payments? Please tell us your thoughts on this topic in the comments section below.
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