According to Mr. Whale's Twitter, British banking giant HSBC is blocking British customers from using credit cards to pay cryptocurrency exchange Binance. The decision comes after the UK’s Financial Conduct Authority (FCA) announced in June that it would not allow Binance to conduct any regulated activities in the country. According to the tweet, HSBC recently contacted its customers and blocked their payments to Binance until further notice. “We have communicated to HSBC UK customers the changes in this [cryptocurrency] space that may affect them,” a HSBC spokesperson confirmed to CoinDesk. “We do not comment on individual securities or cryptocurrency exchanges. We particularly emphasise our high standards for anti-money laundering (AML) and know your customer (KYC) and closely monitor developments in these markets, customer needs and regulatory changes,” BitPush previously reported that after several other British banks blacklisted Binance, British bank Barclays and Spanish banking giant Banco Santander also blocked British customers from making payments to Binance. “We are disappointed that HSBC has made this decision and welcome their direct dialogue with us to discuss all of their concerns,” a Binance spokesperson told Coindesk. “We take our compliance obligations very seriously and we are committed to working with regulators to develop policies that protect consumers, encourage innovation, and advance the industry.” |
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