U.K Banned binance exchange.

[bbc.reporter]

@stompix. Hehe okay, instead of diminshed trading volumes we should be cautious when there is an abnormal pump on trading volumes while the bitcoin news and mainstream news media publish fud in the middle of a government crackdown hehehe.

[bbc.reporter]

Presently also Gizmodo wants to join the cryptocoin fud news party for clickcbaits hehehe. The regulators are coming after Binance, we know this. However, is this claim by Gizmodo real? I have never heard anyone from the cryptospace claim that they have their coins frozen forever in Binance. Those issues always came to a resolution.



Gizmodo submitted a Freedom of Information Act request with the Federal Trade Commission, asking for any complaints filed with the FTC about Binance. The agency found 760 complaints filed since June of 2020, 200 of which were released to Gizmodo and redacted to protect private information. And while the redactions making it difficult to independently verify each individual claim, we start to see illuminating patterns.

The first, and arguably most alarming pattern, appears to be people who put large amounts of money into Binance but say they can’t get their money out. Most often, but not always, it appears their accounts were flagged for “suspicious activity” and the people are unsure how to then withdraw their money from Binance, even after trying to verify their identity. Other times, people say they deposited money but simply aren’t able to take any money out for weeks and sometimes months, assuming they could access the money at all.

Source https://gizmodo.com/32-angry-consumer-complaints-to-the-ftc-about-binance-1847200156

[slaman29]

Gizmodo submitted a Freedom of Information Act request with the Federal Trade Commission, asking for any complaints filed with the FTC about Binance. The agency found 760 complaints filed since June of 2020, 200 of which were released to Gizmodo and redacted to protect private information. And while the redactions making it difficult to independently verify each individual claim, we start to see illuminating patterns.

Remember, this is crypto we're talking about. Open up any of the trusted services on this forum and you will see 100s of complaints. Check casinos for example, where I am a user at many, and we know the admins are even active on this forum. 100s of Flags, Red Trust, and Trustpilot scam complaints. But very few actually merit a real complaint, just scammers who got caught or losers whining or people who tried to scam with fake KYC.

I believe there are 760 complaints. I don't know how many are legit, and I think most of those if not all would have been resolved.

[slaman29]

So just to update, it seems now even the last bank in UK processing EURO withdrawals/deposits for Binance has already taken the decision today to cease its services.

Meanwhile FCA has clarified UK customers can still use binance.com itself.

Tough news for EU customers I guess but has anyone felt affected by this already?

[stompix]

So just to update, it seems now even the last bank in UK processing EURO withdrawals/deposits for Binance has already taken the decision today to cease its services.

Even the last?
I've heard about 4-5 press releases from the major banks shutting down payments to Binance but still, all of them already?
Do you have any source for it?

I wonder who will take the risk to do the deal for Binance, they need a bank and a licensed money transfer gateway in the EU and with the UK stance on this, I wonder who will take the risks. I'm pretty sure it will be again some shady deal with banks running in god knows what islands with no real licensee and a shell company in either Cyprus or Luxemburg but how long will they be able to pull this stunt before their partner will also be cut from the FPN ?

I have never heard anyone from the cryptospace claim that they have their coins frozen forever in Binance. Those issues always came to a resolution.

I wouldn't be surprised if they would freeze accounts and sums, they have one serious shithole in that p2p market plus they have attracted a lot of shady users with their 2 BTC no kyc policy. We know for certain that Binance looks at your transactions and it does send data to both IRS and DoJ so sometimes it might have frozen accounts just on suspicion and they kept it like that, requesting info the user isn't able to provide, as the source of the coins or money.

Let's assume I trade on Binance and I would send my coins there, if asked to verify the source do you think they will accept a signature campaign on bitcointalk as an answer and a google sheet as proof? 

[slaman29]

Even the last?
I've heard about 4-5 press releases from the major banks shutting down payments to Binance but still, all of them already?
Do you have any source for it?

Yes, I read from an earlier source and Binance itself that Clear Junction was still honoring payments processing (this means euro deposits into Binance plus euro withdrawals out of Binance. But then this announcement itself came from their website 2 days ago: https://clearjunction.com/news/binance-transactions/

This is the excerpt quote:

Clear Junction can confirm that it will no longer be facilitating payments related to Binance.

We have decided to suspend both GBP and EUR payments and will no longer be facilitating deposits or withdrawals in favour of or on behalf of the crypto trading platform.

[bbc.reporter]

More regulators from other jurisdictions are becoming more aggressive against Binance. It might be advisable to begin withdrawing your coins slowly and be cautious. Do not make it appear that you are in a hurry hehe.

I speculate bitcoin to pump again, however, Binance’s takedown will occur on December and it will be the cause for the market bubble’s burst.



Hong Kong and Lithuania became the latest places to warn crypto exchange Binance about its operations. Hong Kong’s markets regulator said Binance is not registered to operate in its jurisdiction, while the Bank of Lithuania said it warned the company about “its unlicensed investment services.”

Source https://www.coindesk.com/hong-kong-next-to-issue-binance-warning