The largest cryptocurrency exchange Binance announced the suspension of deposit and withdrawal operations for British users.
As clarified by Bloomberg, the trading platform has taken such a decision because of pressure from regulators. PaySafe company will cease cooperation with Binance, it is she processed transactions with fiat money.
Deposits and withdrawals of pounds will be suspended since May 22, 2023.
The press service of PaySafe confirmed the termination of cooperation with the cryptocurrency exchange and published a statement. At the same time, the company freezes cooperation with Binance only in the UK. In other jurisdictions it will continue to serve exchange customers.
Replenishment of deposits for new users stopped since March 13, and for existing customers the service will be stopped from May 22.
British banks have also begun restricting local cryptocurrency investors. For example, customers of Nationwide Building Society can spend no more than 5,000 pounds per day to buy cryptocurrency.