Binance Reinstates Withdrawals for UK Clients: Report

Withdrawals via Binance’s Faster Payments network have now been reactivated.

Jun 30, 2021 at 5:38 p.m. UTC
Updated Sep 14, 2021 at 1:19 p.m. UTC

Cryptocurrency exchange Binance is once again operating in the U.K. after the Financial Conduct Authority (FCA) said the firm is not allowed to undertake any regulated activities without prior written approval.

  • Customers said Tuesday they couldn’t make deposits or withdrawals in pound sterling from Binance's Faster Payments network, three days after the FCA cracked down on the exchange. At the time, Binance said the move would not have an impact on the services offered on its website.
  • Binance said on Wednesday that sterling withdrawals from its platform had been reactivated and users are able to buy digital coins with debit and credit cards, according to a Reuters report.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Let Terra Die

Do Kwon's proposal to fork the failed stablecoin network isn't what LUNA holders want, nor will it help them.

Do Kwon's proposal to fork the failed stablecoin network isn't what LUNA holders want, nor will it help them.

2
Block Sees Bitcoin Disrupting Payments Networks, Expects Self-Custody to Grow

Block executives spoke during the company’s annual investor day on Wednesday.

Block executives spoke during the company’s annual investor day on Wednesday.

3
Bitcoin Miner Argo Blockchain Emerged Unscathed From Its UST Stake

The company said it was able to sell its minimal UST stake for around 93 cents per token before the price completely collapsed.

The company said it was able to sell its minimal UST stake for around 93 cents per token before the price completely collapsed.

4
Binance Seeking ‘Ideal Point’ for India Launch

Increased hiring, active consultations and monitoring of the regulatory environment by the exchange suggest Indian operations may soon be underway.

Increased hiring, active consultations and monitoring of the regulatory environment by the exchange suggest Indian operations may soon be underway.