Binance Faces Banking Troubles As Banks Stay Clear By DailyCoin
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Binance Faces Banking Troubles As Banks Stay Clear
Binance cannot find a bank to work with it in the US, reports claim.
Banking troubles came as Binance faces a potentially fatal lawsuit with the CFTC.
The lack of banking partners caused disruptions for Binance.US customers.
Binanceâs recent regulatory troubles are causing major issues for its business in the US. After the exchangeâs recent lawsuit with the CFTC, the exchange struggles to find banking partners. Without banking partners, Binance cannot effectively serve its US customers.
At least two banks turned down Binance.US business in recent months, WSJ reported on Saturday. Cross River Bank and Customers Bancorp (NYSE:) Inc. both declined to do business with the exchange, citing regulatory concerns.
Binanceâs prior US banking partners, Signature Bank (OTC:), and Silvergate, both failed earlier this year. The failure of two crypto-friendly banks…
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Binance Faces Banking Troubles As Banks Stay Clear
Binance cannot find a bank to work with it in the US, reports claim.
Banking troubles came as Binance faces a potentially fatal lawsuit with the CFTC.
The lack of banking partners caused disruptions for Binance.US customers.
Binanceâs recent regulatory troubles are causing major issues for its business in the US. After the exchangeâs recent lawsuit with the CFTC, the exchange struggles to find banking partners. Without banking partners, Binance cannot effectively serve its US customers.
At least two banks turned down Binance.US business in recent months, WSJ reported on Saturday. Cross River Bank and Customers Bancorp (NYSE:) Inc. both declined to do business with the exchange, citing regulatory concerns.
Binanceâs prior US banking partners, Signature Bank (OTC:), and Silvergate, both failed earlier this year. The failure of two crypto-friendly banks…
Continue Reading on DailyCoin
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