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[AudraMiller]

There are many banks that are in the united kingdom that are actually banning the link that exists between these banks and the binance cryptocurrency exchange platforms. The new bank that is adding to this list is the Natwest bank which has stated that they are no longer allowing users to utilize their bank accounts to buy cryptocurrency via this exchange service. As with the other banks in the past that have done this, this is as a result of the regulation concern that binance does not abide by within the country. Do you think that this will cause a major reduction in the binance user base and do you think that binance should address this issue as soon as possible to regain many of their users within the UK?

 

[crypworld]

Binance users are mainly in Asia and the US, so it doesn't create much fuss about the banning.

Though some of their UK high profile customers would face inconvenience in trading cryptocurrencies in the country.

 

[ElPaule]

This is just affect direct transfers from UK banks to binance, if coustomers use Coinbase or similar to move money this is still working. Still curious how they explain their decicion to ban binance

 

[Razor1911]

Binance users are mainly in Asia and the US, so it doesn't create much fuss about the banning.

Though some of their UK high profile customers would face inconvenience in trading cryptocurrencies in the country.

But it definitely affects the the sentiment of the binance wallet holders. It will be interesting to see how the binance company will act against such ban. Obviously if they want to stay long term here in the market there should consider in solving such issues quickly.

 

[Wisdom01]

There might not be a major reduction in the amount of users, because those affected by the policy of the bank might look for another medium to buy crypto from binance

 

[Josemendez]

This is strange because I read that Binance has sorted things out with UK government and as such they do not have anything to fear

 

[Wisdom01]

This is strange because I read that Binance has sorted things out with UK government and as such they do not have anything to fear

Am also suprise , and the continuous ban on binance exchange by banks should stop , because the effect of it on the crypto market would be negative, the government should inform them that they have sort out things

 

[Josemendez]

Am also suprise , and the continuous ban on binance exchange by banks should stop , because the effect of it on the crypto market would be negative, the government should inform them that they have sort out things

The issue here is that countries have discovered that Binance is making huge profit from their investment on their country , so they want to have their cut.

 

[Wisdom01]

The issue here is that countries have discovered that Binance is making huge profit from their investment on their country , so they want to have their cut.

Maybe that's why they are placing more regulation , they all want binance to get a license so they could start taxing them , the way they want

 

[Josemendez]

Maybe that's why they are placing more regulation , they all want binance to get a license so they could start taxing them , the way they want

That's the main reason but they will claim that they are trying to monitor money laundering in the country . I hope it won't have negative effect on people

 

[Wisdom01]

That's the main reason but they will claim that they are trying to monitor money laundering in the country . I hope it won't have negative effect on peopl

I think it's binance platform I would have effect on , because many who don't understand the reason for the regulation would start taking their funds out of binance platform

 

[ElPaule]

Ребята у меня есть активы в бинансе мне нужно переживать Или биржа будет дальше процветать

what ever you wrote, I can not understand since I cant read this. It would be fantastic if there would be an international accepted language that everyone can use to communicate - guess this would make our lifes much easier

 

[ElPaule]

I think it's binance platform I would have effect on , because many who don't understand the reason for the regulation would start taking their funds out of binance platform

I am really wondering why many countries are after Binance but Coinbase is much unaffected to bans. Does it comes since Coinbase cooperate with authorities to fulfill existing regulations? Or is it just sinophobia?
Maybe I just do not see some things where Binance is not compliant to regulations....

 

[Razor1911]

I am really wondering why many countries are after Binance but Coinbase is much unaffected to bans. Does it comes since Coinbase cooperate with authorities to fulfill existing regulations? Or is it just sinophobia?
Maybe I just do not see some things where Binance is not compliant to regulations....

Binance is much more larger company than coinbase. Binance is operated in more countries than the latter does. So it is natural that binance will have bigger issues than coinbase.

 

[Wisdom01]

I am really wondering why many countries are after Binance but Coinbase is much unaffected to bans. Does it comes since Coinbase cooperate with authorities to fulfill existing regulations? Or is it just sinophobia?
Maybe I just do not see some things where Binance is not compliant to regulations....

Maybe they saw the level of useage binance have, and this made them choose to regulate them ahead of regulating coinbase ,binance is complaint to regulation just that the government want to introduce taxation

 

[Josemendez]

I think it's binance platform I would have effect on , because many who don't understand the reason for the regulation would start taking their funds out of binance platform

They will still return back to Binance because they will still need to change their cryptocurrency to Fiat currency . They might charge people to cover the fee they pay.

 

[Niftyicon]

The various Binance social media platforms have been agog with various complaints of binance users who think it is unfair to be dictated to on where and how to spend their funds by the banks, however, I think Binance needs to take measures to sort out all its issues to avoid collapse of its business in those countries.

 

[Josemendez]

The various Binance social media platforms have been agog with various complaints of binance users who think it is unfair to be dictated to on where and how to spend their funds by the banks, however, I think Binance needs to take measures to sort out all its issues to avoid collapse of its business in those countries.

Binance cannot solve the issue because it is coming from the government. The citizens are using Fiat Currency to invest in cryptocurrency so it is affecting the country

 

[Razor1911]

Binance cannot solve the issue because it is coming from the government. The citizens are using Fiat Currency to invest in cryptocurrency so it is affecting the country

Yes, binance can do something to make the countries accept them. They should seek out for country specific rules, which should follow the regulation provided by the govts.

 

[Josemendez]

Yes, binance can do something to make the countries accept them. They should seek out for country specific rules, which should follow the regulation provided by the govts.

What I mean is that the citizens complaint on having Financial freedom with their crypto cannot be possible because the government won't support it