Cryptocurrency Q&A
Why can't i deposit GBP in Binance?
Why can't i deposit GBP in Binance?
Gianluca
Sat Mar 30 2024
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6 answers
1155
I'm quite puzzled. I've been trying to deposit GBP into my Binance account for the past few days, but it seems like the option isn't available. I've checked my account settings and made sure that everything is correct, but still no luck. Is there a specific reason why I can't deposit GBP into Binance? Could it be a technical issue, or is it something to do with the regulations in my country? I'd really appreciate it if someone could clarify this for me. After all, GBP is a major currency and it's quite inconvenient not being able to use it on such a popular crypto exchange platform.
6 answers
Starlight
Mon Apr 01 2024
In June 2021, the UK Financial Conduct Authority (FCA) issued a notice targeted at cryptocurrency users.
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lucas_emma_entrepreneur
Sun Mar 31 2024
This notice stated that Binance Markets Limited and its parent company, Binance Group, were prohibited from carrying out any "regulated financial activities" in the UK.
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Leonardo
Sun Mar 31 2024
BTCC offers a range of services including trading, wallet storage, and fiat-to-crypto conversions, all within the confines of UK financial laws.
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Giuseppe
Sun Mar 31 2024
Consequently, users were prohibited from depositing funds into their Binance accounts using GBP or euros.
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CryptoGladiatorGuard
Sun Mar 31 2024
This regulatory action by the FCA effectively halted the exchange's ability to offer services in the UK market.
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