Share this article
UK Bank Barclays Blocks Payments to Binance
The move follows the FCA's announcement that Binance cannot conduct regulated activities in the country.
Updated Sep 14, 2021, 1:20 p.m. Published Jul 5, 2021, 3:30 p.m.
U.K. bank Barclays said Monday it is blocking customers from using their debit and credit cards to make payments to crypto exchange Binance.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- "With effect from today, Barclays intends to stop credit and debit card payments to Binance," Barclays said in an email to CoinDesk. "This action does not impact on the ability for customers to withdraw funds from Binance."
- The bank has been contacting customers who have used their cards on Binance this year, advising them it is stopping payments until further notice, according to tweets.
- The decision follows shortly after the U.K. Financial Conduct Authority (FCA) announced that Binance was not allowed to conduct any regulated activities in the country.
- Regulators in other markets including Japan and Canada have offered similar warnings in recent weeks, with one in Thailand even threatening criminal charges.
- Binance had not responded to CoinDesk's request for comment by press time.
Read more: Binance Not Authorized to Operate in the Cayman Islands, Regulator Says
UPDATE (JULY 5, 16:01UTC): Rewrites top of story to reflect comment from Barclays.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Lighter trading platform sees $250 million withdrawn 24 hours after airdrop
Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.
What to know:
- Approximately $250 million was withdrawn from Lighter after its $675 million LIT token airdrop.
- The withdrawals represent about 20% of Lighter's total value locked, according to Bubblemaps CEO Nicolas Vaiman.
- Large withdrawals post-token generation events are common as early participants exit, says CertiK's Natalie Newson.
Top Stories
