Nomo Bank latest in UK to block Binance payments
Nomo Bank , a digital bank launched in 2021, has become the latest UK bank to block customers’ payments to Binance . In an email to customers, Nomo said it was blocking payments “pursuant to other UK banks, recent adverse news reports, and regulatory concerns.” This policy does not affect payments and withdrawals to other registered crypto exchanges recognized by the UK’s financial regulator, the Financial Conduct Authority (FCA). In the email, Nomo specified recent FCA action as the reason for making these changes. “Our regulator, the FCA, have been very vocal about the risks associated with cryptocurrency,” it said. “Our approach has been designed to help you keep your money safe.” The bank added, “This is also in line with wider UK bank practice.” Following a notice by the FCA in 2021 that Binance was not a registered crypto-service provider in the UK, major UK banks have blocked payments to Binance, including: B...