Binance Says Barclays’ Action Against it is uncalled for

Binance Says Barclays’ Action Against it is uncalled for

Someone from Binance said it again to Cointelegraph that the decision made by the FCA of the U.K. against Binance didn’t affect the exchange division, which is

After Barclays decided it would no longer help Binance’s customers process their payments, a representative of the firm has said that the decision was uncalled for and that Barclays needed to understand the incident clearly.

He said the Binance team was disappointed that Barclays acted rashly. The U.K’s Financial Conduct Authority had earlier announced that Binance Markets Limited was no longer welcomed in the U.K.
The representative went ahead to explain that Binance Markets Limited was affected because it was licensed in the U.K. He further stressed that the company exists independently from which is responsible for all the exchanges worldwide.

Again, he noted that the FCA’s position on Binance Markets Limited did not stop the exchange from reaching out to its clients in the U.K. especially because their funds are always safe with them. Binance has said it doesn’t mind discussing the matter with Barclays.

Binance has been affected by many regulatory bodies recently. From last two weeks, they have had it tough with Japan and the U.K. which have discouraged their citizens to continue their patronage with the company.

While Binance is still trying to see if things can still work out in the U.K, the exchange already announced that the province of Ontario in Canada will no longer enjoy its services after considering the new regulations very difficult to handle.


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