Hursty If you do a bank transfer it’s fine as you can’t claim these are fraudulent at a later point (although I think binance have deactivated GBP as a currency and bank transfers won’t work for now while they are under investigation by the FCA) - if you used your debit or credit card to pay Binance, you can cancel the transaction, hence the problem.
I agree, the tone of Barclays text was patronising but I think the underlying point was sound - especially for credit cards - you’re not using your own money, your using theirs.
Apparently all banks are making the same moves in the UK - can’t transfer to Binance via Halifax and a few others.
Binance are shady apparently - they refuse to engage with regulators about who’s running the show or where they are headquartered which is why the FCA have come down on them.
That said, it could equally be the first broadside against Crypto with the banks finally realising the potential impact of the technology. But you’d think they would go up against all crypto houses (but then again, those comply with the law and regulators so it would be borderline illegal and contested in court).
Since you can transfer crypto around from wallet to wallet, it aint exactly hard to bypass this obviously.
