Bitcoin exchange Binance has suspended deposits and withdrawals in pounds sterling from March 13 for new users. For everyone else, the ban will come into force on May 22. The Block.
“We have concluded that the UK crypto regulatory framework is too complex to offer such a service, and therefore this is a prudent decision on our part, taken due to serious concerns,” said a representative of the financial partner of the Paysafe platform.
The firm will continue to work with Binance in Europe and Latin America.
The exchange calculated that the decision will affect less than 1% of users. Paysafe also said that the impact of the problem on the company’s business is “small.”
Recall that Binance launched Bifinity, which it positioned as the official provider of payments in fiat and digital currencies.
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