Binance is not on good terms with the UK regulators. We could see that in how the FCA unauthorized its “operations” in the UK and Barclays Bank subsequently stopped its customers from transferring funds to Binance.
Due to this, there are times—like early this month—that the exchange would not give the functionality that allows the UK users to withdraw in pound sterlings.
This happened again yesterday without any notice. Thereby inconveniencing some users, while some are panicking all over the internet. Some have attributed this to the dissolved partnership of the exchange with some FinTech companies like Clear Junction.
Some users affirmed to have received mails from the Binance Customer Support team. The mail informed the users of the present challenge the exchange is facing and how they hope to solve it soon. It referred to the inability to withdraw pounds sterlings as a “temporary suspension”.
It is evident that the recent regulatory measures against Binance are hindering the users from having the best experience of the exchange platform. At this juncture, some UK users claim to no longer find Binance quite safe to use.
As at the time of writing this report, Binance in the UK has not proffered a concrete means through which the UK users can withdraw in their fiat currency.