Who wants Binance dead? Bitcoin exchange betrayed by new strategic partner

When will the Binance bashing stop? – The hard knocks are coming one after another for Binance, at a pretty incredible rate. The first big bad news was certainly the action of the FCA (the British financial authority) against one of the crypto exchange’s subsidiaries

, but today, it’s downright one of its partners who is dropping Binance in the open.

Clear Junction stabs Binance in the back

The best known Bitcoin

and crypto exchange continues to suffer multiple setbacks. This July 12, it’s partnership with one of its main payment processors that just abruptly ended.

According to the release

from Clear Junction, which had been offering SEPA transfers to Binance users since June 2020, the termination of its services is immediate :

“[The company] Clear Junction confirms that it will no longer facilitate Binance-related payments. This decision has been taken following the recent announcement by the Financial Conduct Authority (FCA) that Binance is not permitted to undertake any regulatory activity in the UK. We have decided to suspend payments in sterling and euros, and we will no longer facilitate deposits or withdrawals to or on behalf of the crypto trading platform (…)”

Clear Junction release – Source: clearjunction.com <img src=”https://journalducoin-com.exactdn.com/wp-content/uploads/2021/02/CTA-achat-Bitcoin-BTC-trop-tard.png?lossy=1&quality=66&resize=700%2C79&ssl=1″ alt=”The alt attribute of this image is empty, its file name is CTA-buy-Bitcoin-BTC-too-late.png.” />

A real relentlessness against Binance?

It’s now clear why Binance had to suspend its SCT offering overnight on July 7.

As mentioned above, much of the crypto exchange’s recent problems started with the FCA banning the activities of its subsidiary Binance Markets, as the company offers financial products derived from cryptocurrencies, which are subject to regulation, unlike traditional (spot) cryptocurrency exchanges which are not.

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But for the move, Clear Junction’s decision deprives all users of the platform of transfers, even to simply buy crypto assets. Fortunately, in a counter-attack, Binance has offered zero fees on credit card purchases.

Other troubles have also surfaced for Binance on the side of its access problems, during connection saturations due to strong movements in the crypto market. Traders who feel they have been wronged have launched a class action suit against the platform to seek compensation.

Fortunately, the world continues to spin for the rest of the crypto ecosystem. The perfect opportunity to take advantage of a limited offer that allows you these days to get up to €300 in cryptocurrencies for free (subject to a minimum deposit of €150)! Take advantage of this offer, while supporting the work of Le Journal du Coin by using this affiliate link to sign up on the Swissborg reference platform (see conditions of the offer on the official website).