{"id":46552,"date":"2021-07-22T18:47:19","date_gmt":"2021-07-22T15:47:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46552"},"modified":"2025-09-01T16:59:18","modified_gmt":"2025-09-01T13:59:18","slug":"natwest-blocks-transfers-to-binance-amid-regulatory-uncertainty","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/natwest-blocks-transfers-to-binance-amid-regulatory-uncertainty\/","title":{"rendered":"NatWest blocks transfers to Binance amid regulatory uncertainty"},"content":{"rendered":"<p>British bank NatWest blocked transfers to the Bitcoin exchange Binance, citing regulatory uncertainty.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I welcome advice on how I spend &#038; invest my money here in the UK, but do not force obstruction. This is so far from the solution to the problems you are claiming it solves within <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> &#038; cryptocurrency scams <a href=\"https:\/\/twitter.com\/NatWest_Help?ref_src=twsrc%5Etfw\">@NatWest_Help<\/a>. <a href=\"https:\/\/t.co\/cKKwM2UQKY\">pic.twitter.com\/cKKwM2UQKY<\/a><\/p>\n<p>\u2014 FEGMike \ud83c\uddec\ud83c\udde7 (@FegMike) <a href=\"https:\/\/twitter.com\/FegMike\/status\/1418173184520724485?ref_src=twsrc%5Etfw\">July 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>One user supplied a screenshot of a message from NatWest&#8217;s customer service. It says that transfers from debit and credit cards to Binance are being blocked because of regulatory uncertainty around the Bitcoin exchange and the rising incidence of cryptocurrency fraud.<\/p>\n<p>In June, the UK&#8217;s Financial Conduct Authority <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">prohibited<\/a> Binance&#8217;s UK arm from conducting any regulated activity without prior written approval from the agency.<\/p>\n<p>A NatWest spokesperson told Cointelegraph that the block would last \u201cfor several weeks\u201d. He said the decision to resume transfers \u201cwill be subject to regular review\u201d.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe are temporarily reducing the transfer limit to cryptocurrency exchanges. We will also not process payments to some of them where we have observed a significant level of fraud. The restrictions do not apply to incoming funds from these platforms,\u201d<\/em> the spokesman explained.<\/p>\n<\/blockquote>\n<p>Earlier in July, the difficulties NatWest customers faced with transfers to Bitcoin exchanges first became known <a href=\"https:\/\/u1f987.com\/en\/news\/natwest-temporarily-restricts-transfers-to-crypto-exchanges\">.<\/p>\n<p>In May, the institution <a href=\"https:\/\/u1f987.com\/en\/news\/british-neobank-starling-bank-temporarily-bans-deposits-to-bitcoin-exchanges\">warned<\/a> its clients about cryptocurrency fraud.<\/p>\n<p>NatWest took a similar step after analogous moves by <a href=\"https:\/\/u1f987.com\/en\/news\/barclays-bars-uk-customers-from-sending-funds-to-binance\">Barclays<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/santander-blocks-payments-to-binance-for-uk-customers\">Santander<\/a>.<\/p>\n<p>In July, the British payments system Clear Junction <a href=\"https:\/\/u1f987.com\/en\/news\/britains-clear-junction-ends-cooperation-with-binance\">refused<\/a> to process payments related to Binance.<\/p>\n<p>Earlier, the Bitcoin exchange <a href=\"https:\/\/u1f987.com\/en\/news\/binance-suspends-euro-deposits-via-sepa\">suspended<\/a> euro deposits via the <span data-descr=\"Single Euro Payments Area (SEPA)\" class=\"old_tooltip\">SEPA<\/span> payment system.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British bank NatWest blocked transfers to the Bitcoin exchange Binance, citing regulatory uncertainty.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,744,810],"class_list":["post-46552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-binance","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46552"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46552\/revisions"}],"predecessor-version":[{"id":46553,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46552\/revisions\/46553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}