Skrill To Cease GBP Fiat Services for Binance Users Amid Regulatory Pressure

  1. Skrill Limited to cease offering GBP fiat services to Binance users on May 22.
  2. Regulatory pressure on the cryptocurrency industry prompts service restrictions.
  3. Binance remains committed to regulatory compliance and seeks alternative providers.

Leading cryptocurrency exchange Binance has received news that its GBP fiat partner, Skrill Limited, will cease offering GBP fiat services to its users via bank transfer with its “Faster Payments Service” and card on May 22. In an email sent to “Binancians,” Binance regretfully informed its users of the news. The trading platform added that it is in the process of seeking an alternative provider to supply British pound on- and off-ramp services to users as soon as possible.

Skrill Limited’s decision comes amidst mounting regulatory pressure on the cryptocurrency industry. Regulators have been pushing for greater oversight and compliance measures within the sector, including stricter Know Your Customer (KYC) requirements. This has prompted several crypto exchanges to impose restrictions and limitations on their services.

Binance has remained steadfast in its commitment to regulatory compliance and has taken proactive measures to ensure it is in line with regulatory requirements. The exchange has increased its compliance staff and has made significant investments in compliance-related technology.

The change in Skrill Limited’s service offering is not expected to impact Binance Accounts or any of’s products or services. Binance has approximately nine weeks to find an alternative before Skrill terminates its services. The exchange has assured its users that it is working tirelessly to find a solution and ensure uninterrupted service to its users.

In other news, Final Fantasy, one of the largest video game brands in history, continues to make headlines with its 14th installment’s metaverse implementation.

This time, Final Fantasy XIV is teaming up with the sportswear brand Puma to expand its concept into the fashion world. Particularly, the alliance will develop a clothing line inspired by the “game’s idea of light and darkness.”

Read also:

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.