News Explorer — Binance to Suspend British Pound Deposits, Withdrawals

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Mar 13, 9:35 pm

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Binance to Suspend British Pound Deposits, Withdrawals

Binance will suspend British pound sterling deposits and withdrawals starting on May 22 due to Skrill Limited, its U.K.-based partner, no longer supporting it. Existing users can still access their GBP balances, but new users will be unable to open accounts on the exchange with GBP deposits. Binance is working to find an alternative solution, but the UK’s Financial Conduct Authority has ordered Binance Markets Limited to stop “any regulated activities” without prior written consent.

Binance will suspend British pound sterling deposits and withdrawals starting on May 22 due to Skrill Limited, its U.K.-based partner, no longer supporting it. Existing users can still access their GBP balances, but new users will be unable to open accounts on the exchange with GBP deposits. Binance is working to find an alternative solution, but the UK’s Financial Conduct Authority has ordered Binance Markets Limited to stop “any regulated activities” without prior written consent.

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