It looks like the sky is not clear yet for Binance as HSBC UK becomes the latest bank to shut payment channels to the cryptocurrency exchange.
Banks in the United Kingdom are continuing to tighten their grip on the Binance cryptocurrency exchange, with
HSBC UK reportedly banned credit card payments to Binance, according to a number of claimed HSBC clients who reported it on Twitter on Monday.
HSBC UK made the decision “due to concerns about possible risks” to its clients, according to an apparent notice on the service suspension.
“As a responsible lender, we take our responsibility seriously and want to do everything we can to protect you. The bank reportedly wrote, “We’ll continue to monitor the issue and let you know if anything changes.”
The Financial Conduct Authority (FCA) of the United Kingdom issued a recent warning on Binance in late June, citing worries about the company’s regulatory standing in the country, according to HSBC UK.
The bank added, “This also highlights some of the dangers of investing in crypto-assets should this go wrong.” The FCA’s warning only applied to Binance Markets Limited, a separate legal organization from the main global exchange that runs through Binance.com, according to Binance spokespeople.
The latest report comes after NatWest, another UK bank, stated in mid-July that all credit and debit card payments to Binance have been stopped until further notice.
In late June, Barclays, a British global universal bank, made a similar declaration, citing the FCA’s warning.
HSBC appears to have established itself as a leading anti-crypto bank, refusing to allow its customers to invest in crypto and virtual asset-related goods.
As part of its modified user policy preventing clients from dealing with cryptocurrencies, HSBC reportedly blacklisted the shares of business analytics firm MicroStrategy on its online trading platform earlier this year.