Binance, the world’s largest crypto exchange by trading volumes, is now at the risk of losing its global dominance. The recent regulatory crackdown from some of the top regulators worldwide is putting Binance in a bad light. Institutional-grade crypto market data provider Kaiko notes that the recent “onslaught” of regulatory action is putting pressure on

The post Binance’s Global Dominance Under Threat, Barclays Blocks Payments to Binance appeared first on Coingape.

British bank Barclays has notified customers that it is not possible to transfer payments to the cryptocurrency bond to protect their money.

Last week, UBS issued a warning to its customers about the dangers of regulatory crackdowns causing ‘bubble-like crypto markets to collapse.

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The investment bank already sent a SMS notification to all its UK customers.

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British banking giant Barclays is prohibiting customers from using their debit and credit cards to make payments to the world’s largest cryptocurrency by trading volume, Binance. Barclays appears to be sending text messages to their customers, informing them that the bank is halting payments to the crypto exchange until further notice, the Financial Times reported. […]

Barclays clients based in the U.K. can no longer use a credit or debit card to make payments to the exchange until further notice.

The post Barclays customers in the U.K. can no longer transfer funds to Binance appeared first on The Block.

A Binance spokesperson reiterated to Cointelegraph that the Financial Conduct Authority's recent edict only applied to Binance Markets Limited, or BML, which is a separate legal entity from the main global exchange that operates through Binance.com.

The crypto exchange is also required to register its business under the new rulings imposed by the South Korean watchdog.