Binance says Sterling Withdrawals Reactivated after Outage


LONDON Reuters Major cryptocurrency exchange Binance said on Wednesday that sterling withdrawals from its platform had been reactivated, with users also able to buy digital coins with debit and credit cards.

Binance customers said on Tuesday they were unable to deposit or withdraw sterling from the platform, days after regulators in Britain cracked down on some of its activities in the country.

Users of the exchange, one of the worlds biggest, said they were unable to withdraw or deposit sterling via the Faster Payments network which enables mobile, internet and other payments between British bank accounts or bank cards.

A Binance spokesperson said withdrawals via the Faster Payments network were reactivated on Tuesday, adding that bank card purchases of crypto were again possible.

Many users complained that Binance had given no information about transactions being blocked, beyond a down for maintenance message.

Binance had said the Financial Conduct Authority FCA move would not impact services offered on its website, access to which by British residents was unaffected by the crackdown.

Later on Wednesday, the crypto exchange displayed a notice on its website stating that Binance Markets Limited, a UK based company, was not permitted to undertake regulated activities in the country.

It tweeted the same statement from its Binance.UK twitter handle. However, Reuters could not find a notice on the website or under the Binance twitter…

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