Banks in the United kingdom of great britain and northern ireland continue to crevice down on Binance cryptocurrency exchange, with banking giant HSBC becoming the latest bank to cutting payment channels to the platform.

A series of HSBC clients reported on Twitter this Monday that HSBC UK had suspended credit menu payments to Binance.

According to an announcement on the service suspension, HSBC Uk made the decision "due to concerns about possible risks" to its customers. "Nosotros take our duty as a responsible lender seriously and want to exercise everything nosotros tin can to protect you lot. We'll keep to monitor the situation and let you know if anything changes," the depository financial institution wrote.

HSBC UK cited a contempo warning on Binance issued in late June by the U.K. Financial Bear Authorization (FCA), raising concerns on the regulatory status of Binance in the country. "This likewise explains some of the risks of investing in crypto avails should this get incorrect," the bank noted. Binance representatives said that the FCA'south warning only applied to Binance Markets Limited, a split up legal entity from the main global substitution that operates through Binance.com.

"We are disappointed that HSBC has taken this decision and would welcome a dialogue to discuss whatever concerns that they have," a Binance spokesperson told Cointelegraph. The representative added that the exchange is taking its obligations very seriously every bit Binance is "committed to working collaboratively with regulators to shape policies that protect consumers, encourage innovation, and move our industry forward."

HSBC did not respond to Cointelegraph's request for comment.

The latest report comes shortly after some other U.Thousand. depository financial institution, NatWest, confirmed in mid-July that the institution has blocked all credit and debit card payments to Binance until further notice. Previously, British multinational universal banking company Barclays made a similar proclamation in belatedly June, citing the FCA'due south alarm.

HSBC has now manifestly emerged equally a major anti-crypto bank, withholding its customers from investing both in crypto and virtual asset-related products. Earlier this year, HSBC reportedly blacklisted the stock of business intelligence firm MicroStrategy on its online trading platform as function of its amended user policy prohibiting customers from interacting with cryptocurrencies.