Binance back in… for now

The Faster Payments systems enables round the clock sterling payments of up to £1million and Binance has regained access to the system by teaming up with Paysafe. The partnership is interesting, particularly given that the FCA had issued a consumer warning about Binance (and also declined permission for its trading arm Binance Markets Limited to undertake regulated activity in the UK); The FCA had published a supervisory notice in respect of Binance outlining that it could not effectively supervise the firm. It remains to be seen whether the FCA will take further steps to address remaining concerns about Binance.