Santander UK becomes the latest bank to block payments to Binance
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Santander UK becomes the latest bank to block payments to Binance

Saudu Clement
Saudu Clement

Santander UK has reportedly blocked its users from making payments to Binance.

The bank notified clients via Twitter that it would be blocking payments to Binance until further notice due to crypto fraud. According to the company:

Keeping our customers safe is a top priority, so we have decided to prevent payments to Binance following the FCA’s warning to consumers.

Santander added that it had seen "a large increase" in U.K. customers becoming the victims of crypto fraud in recent months.

U.K. banks are taking an increasingly hostile stance against cryptocurrencies, and Santander is now the second major bank in the region to block transfers to Binance. As reported by BTC PEERS, Barclays placed a ban on debit or credit card payments to Binance earlier this week.

In a released warning, the Financial Conduct Authority (FCA) stated that “due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA.”

Apart from the U.K., Binance has also faced crackdowns from regulators around the world, including the U.S., Japan, Thailand, and the Cayman Islands. More recently, China added Binance to its list of blacklisting sites, meaning that residents will no longer be able to access the services of the exchange without a VPN.