Payment partner Clear Junction suspends activity with Binance

Payments player Clear Junction has suspended activity with Binance after similar moves from Barclays and Santander.

Payment partner Clear Junction suspends activity with Binance

One of the leading crypto exchanges, Binance is facing a number of regulatory issues recently as the Financial Conduct Authority (FCA) heads up regulatory overwatch of finance in the United Kingdom.

“Clear Junction can confirm that it will no longer be facilitating payments related to Binance,” The payment company said in a statement that was tweeted out by Adam Samson of the Financial Times. 

“The decision has been made following the Financial Conduct Authority’s recent announcement that Binance is not permitted to undertake any regulatory activity in the UK,” Adam said.

Toward the end of June 2021, the FCA ruled that Binance Markets Limited had to stop its U.K.-based operations. Binance, countering the FCA move, said that BML is a separate outfit.

Following the news along with other regulatory concerns, Barclays suspended customers from using payment cards for Binance activity. Subsequently, the U.K. branch of Santander also decided to suspend customer interaction with the crypto exchange. 

Read: Binance suspends popular fiat ramp in U.K. amid regulatory crackdown