{"id":501289,"date":"2021-07-06T07:32:13","date_gmt":"2021-07-06T06:32:13","guid":{"rendered":"https:\/\/ibsintelligence.com\/?p=501289"},"modified":"2021-09-21T12:11:12","modified_gmt":"2021-09-21T12:11:12","slug":"barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/","title":{"rendered":"Barclays UK bans transactions to crypto platform Binance due to FCA rules"},"content":{"rendered":"<p><a href=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-164162 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg-300x300.jpg\" alt=\"\" width=\"300\" height=\"300\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg.jpg 300w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg-150x150.jpg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg-100x100.jpg 100w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg-60x60.jpg 60w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg-90x90.jpg 90w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>The U.K.&#8217;s financial services regulator on June 26 ordered <a href=\"https:\/\/www.binance.com\/en\">Binance<\/a> to halt any regulated operations &#8211; effectively, a ban on Binance Markets, its only UK-regulated entity offering crypto derivatives.<\/p>\n<p><a href=\"https:\/\/www.barclays.co.uk\/\">Barclays<\/a>, one of the British banks by assets, suspended debit and credit card payments to crypto-trading platform Binance on Monday, citing a notice from the country&#8217;s financial services regulator.<\/p>\n<p>Barclays isn&#8217;t the only U.K. bank to take a stand against crypto; <a href=\"https:\/\/personal.natwest.com\/personal.html\">Natwest<\/a> recently issued a similar block in hopes of protecting customers from scams and frauds. <a href=\"https:\/\/www.hsbc.com\/\">HSBC<\/a> has banned clients from buying MSTR stock on its trading platform due to MicroStrategy&#8217;s exposure to Bitcoin.<\/p>\n<p>Although Barclays has stopped card transfers to Binance, it has assured customers that this action does not impact their ability to withdraw funds from the exchange. The message also didn&#8217;t mention instant transfers, but only those made with a credit or debit card.<\/p>\n<p>Over the last month, Binance has faced several regulatory issues both in the U.K. and globally. On June 26, the <a href=\"https:\/\/www.fca.org.uk\/\">Financial Conduct Authority<\/a> banned Binance from offering crypto derivatives in the U.K., the same FCA ruling that Barclays cited in its decision to stop transfers to the exchange. On the same page as the Binance ruling, the FCA also gives more general advice regarding investment in crypto assets.<\/p>\n<p>Recently, <a href=\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-teams-up-with-cgi-to-introduce-new-trade-finance-platform\/\">IBS Intelligence reported<\/a> that Barclays Corporate Banking recently announced that it has teamed up with CGI for implementing the CGI Trade360 platform in a bid to offer an end-to-end global trade finance solution for Barclays clients in the U.K. and around the world.<\/p>\n","protected":false},"author":18,"featured_media":164162,"parent":0,"template":"","categories":[11385,11396,11378],"tags":[11767,11406],"class_list":["post-501289","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-blockchain","category-cryptocurrency","category-open-banking","tag-barclays","tag-uk"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Barclays UK bans transactions to crypto platform Binance due to FCA rules<\/title>\n<meta name=\"description\" content=\"The U.K.&#039;s financial services regulator on June 26 ordered Binance to halt any regulated operations - effectively, a ban on Binance Markets\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barclays UK bans transactions to crypto platform Binance due to FCA rules\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally \u2013 the largest by any analyst firm in this space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/\" \/>\n<meta property=\"og:site_name\" content=\"IBS Intelligence\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ibsintelligence.cmc\/\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-21T12:11:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@IBSIntelligence\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/\"},\"author\":{\"name\":\"Joy Dumasia\",\"@id\":\"https:\/\/ibsintelligence.com\/#\/schema\/person\/8901a347240172792175887327383897\"},\"headline\":\"Barclays UK bans transactions to crypto platform Binance due to FCA rules\",\"datePublished\":\"2021-07-06T06:32:13+00:00\",\"dateModified\":\"2021-09-21T12:11:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/\"},\"wordCount\":278,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ibsintelligence.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg.jpg\",\"keywords\":[\"Barclays\",\"UK\"],\"articleSection\":[\"Blockchain\",\"Cryptocurrency\",\"Open Banking\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/\",\"url\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/\",\"name\":\"Barclays UK bans transactions to crypto platform Binance due to FCA rules\",\"isPartOf\":{\"@id\":\"https:\/\/ibsintelligence.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ibsintelligence.com\/ibsi-news\/barclays-uk-bans-transactions-to-crypto-platform-binance-due-to-fca-rules\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/Binance.jpeg.jpg\",\"datePublished\":\"2021-07-06T06:32:13+00:00\",\"dateModified\":\"2021-09-21T12:11:12+00:00\",\"description\":\"The U.K.'s financial services regulator on June 26 ordered Binance to halt any regulated operations - 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