Clear Junction Ceases Processing Transactions Related to Binance

Clear Junction, a global payments solutions provider, announced on Monday that it will no longer process transactions related to Binance. 

The decision comes after the Financial Conduct Authority's (FCA) recent warning against Binance for undertaking regulated activities in the UK without authorization.

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As detailed in the official announcement, the payments provider posted the following on its website,

"We have decided to suspend both GBP and EUR payments and will no longer be facilitating deposits or withdrawals in favour of or on behalf of the crypto trading platform. Clear Junction acts in full compliance with FCA regulations and guidance in regards to handling payments of Binance."

Let's recall that, the crypto exchange giant partnered with Clear Junction to add the instant direct transfer methods for both deposits and withdrawals for the European traders on the platform back to June 2020. 

The Clear Junction news follows the recent moves by Barclays and Santander Bank. At the same time, the crypto exchange also faces regulatory challenges in Japan, UK, Ontario, Cayman Islands, Thailand, and Poland.