Binance Is Halting Deposits and Withdrawals for UK Customers

Binance Holdings Ltd., the world’s largest crypto exchange, is suspending deposit and withdrawal services via bank transfers and card payments for UK customers after its local banking partner stopped providing support for transactions in British pounds.

Paysafe, a London-based online payments company, said it would stop providing one of its products to Binance’s customers in the UK, citing local regulators’ approach to cryptoassets. Paysafe didn’t say whether it would drop support for other crypto companies as well.

“We have concluded that the UK regulatory environment in relation to crypto is too challenging to offer this service at this ...