UK customers of Binance are currently unable to use Faster Payments, the local payments provider, in order to withdraw British pounds from the exchange.
Yesterday, a notice on the Binance website revealed that the withdrawals of the British pound through Faster Payments had been “suspended for maintenance.”
Faster Payments represents a payment provider used by important banks in order to process near-instant payments, and it was a highly popular channel for moving fiat currencies to and from the Binance exchange.
UK users are still allowed to use traditional methods, like bank cards, in order to move money from the exchange.
The exchange has acknowledged that the suspension of Faster Payments is indeed an important problem.
The move comes a day after the UK Financial Conduct Authority (FCA) asked Binance to stop all regulated activities in the country.
“Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” revealed the letter from the FCA.
Source: CoinTelegraph.com