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Binance customers unable to withdraw, deposit pounds via UK's Faster Payments – FT

·1-min read
FILE PHOTO: The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's

(Reuters) - Customers of cryptocurrency exchange Binance in the United Kingdom have lost access to withdrawing and depositing pounds through a system known as Faster Payments, the Financial Times reported on Monday.

The ability to remove sterling from the platform through Faster Payments had been "suspended for maintenance" the digital asset firm said on its main exchange Binance.com, according to the report https://on.ft.com/3dlymtM.

The news came days after Britain's financial regulator Financial Conduct Authority (FCA) banned the cryptocurrency exchange's UK operations.

Binance did not immediately respond to a Reuters request for comment, while Faster Payments could not be reached.

(Reporting by Sneha Bhowmik; Editing by Sriraj Kalluvila)

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