Binance Reinstates Withdrawals for UK Clients: Report

Withdrawals via Binance’s Faster Payments network have now been reactivated.

AccessTimeIconJun 30, 2021 at 5:38 p.m. UTC
Updated Sep 14, 2021 at 1:19 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cryptocurrency exchange Binance is once again operating in the U.K. after the Financial Conduct Authority (FCA) said the firm is not allowed to undertake any regulated activities without prior written approval.

  • Customers said Tuesday they couldn’t make deposits or withdrawals in pound sterling from Binance's Faster Payments network, three days after the FCA cracked down on the exchange. At the time, Binance said the move would not have an impact on the services offered on its website.
  • Binance said on Wednesday that sterling withdrawals from its platform had been reactivated and users are able to buy digital coins with debit and credit cards, according to a Reuters report.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.