Barclays PLC (LON:BARC) has become the latest UK bank to block customers from making credit and debit card payments to crypto exchange Binance after it was banned by the Financial Conduct Authority (FCA) last week.
Late on Monday afternoon, CoinDesk reported that the blue-chip bank said it “intends to stop credit and debit card payments to Binance”, although the block would not prevent customers from withdrawing funds from the exchange.
READ: Binance not licensed to operate in Cayman Islands, says regulator
Barclays has also been contacting customers that have used their cards for Binance payments that the bank will be blocking the payments until further notice.
Barclays’ move follows last week’s decision by the FCA to prevent Binance from conducting any "regulated activity" in the UK.
The FCA has also issued a warning about its website, Binance.com, and adverts promising high returns on crypto-based investments.
Shortly after the FCA’s ban, Binance disabled withdrawals for UK customers using bank cards after previously suspending the ability to make withdrawals directly into bank accounts. A rapid payments processor, Faster Payments, also suspended Binance payments last week.
READ: Binance's UK customers blocked from making cash withdrawals following FCA ban
The UK regulator’s tightening grip on Binance follows action by other regulators against the firm, with Japan having issued a warning to consumers about the exchange while authorities in the US and Germany have also expressed concerns.
Binance is also facing issues in the Cayman Islands, where it is domiciled, after the tax haven’s financial watchdog said the exchange is “not registered, licensed, regulated or otherwise authorised” to operate in the territory.