The British multinational bank informed all their users that they will block all types of payments made for Cryptocurrency Exchange.
Barclays is a British multinational universal bank. They are now ready with their new decision to their card holders’ customers.
Barclays confirmed that they will not allow any type of payment made for the Cryptocurrency Exchange specially Binance.
Since they blocked payment for all crypto exchanges but here they tried to target Binance Exchange specially.
Barclays said, all the payments made through the debit or credit card of Barclay bank for crypto exchange will be banned from now. And it will not be allowed until further notice by them.
One of the crypto Investors, Wealth Kode’s, expressed his disappointment through a tweet.
“As you’ve made a payment to Binance this year, we wanted to let you know that we’re stopping payments made by credit/debit card to them until further notice. This is to help keep your money safe. For further info, please search FCA Binance online. We’re sorry for any disruption this may cause you.”
So probably he will not use Barclays Debit or credit card until they will announce to facilitate the payment for Cryptocurrency Exchange purpose officially.
Mr. Lee further added they are gonna lose their customers by this useless decision.
And further he added that ” I am the owner of my money and it is my decision where I am going to use”.
Many financial authorities shared their point on this decision of Barclays to ban Cryptocurrency Exchange payment for their card holders.
Most of the authorities indirectly stated, your main work is to facilitate the payment services for users under legal laws. If there is no problem by the end of Government authorities to make payments in crypto assets related goods then why are they doing so?
After the whole incident FCA announced that no one regulated financial institution will facilitate transactions to Binance exchange.
Here it should be notice that FCA didn’t said about the all the cryptocurrency exchanges, because of the current investigation and action they are doing so. But probably Barclays blocked for all.