{"id":139014,"date":"2023-09-02T02:36:07","date_gmt":"2023-09-01T21:06:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=139014"},"modified":"2023-09-02T02:36:07","modified_gmt":"2023-09-01T21:06:07","slug":"binance-loses-contract-with-uks-checkout-com-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-loses-contract-with-uks-checkout-com-crypto-news\/","title":{"rendered":"Binance Loses Contract With UK’s Checkout.com – Crypto News"},"content":{"rendered":"

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In a huge setback to Binance, United Kingdom based credit card processing company Checkout.com is learnt to have parted ways with the crypto exchange. According to a report from Forbes,\u00a0the world\u2019s top crypto exchange by volume had been informed by the company about the intent to terminate contract over regulatory concerns. This could likely be a new leaf in Binance\u2019s many regulatory concerns, considering that Checkout.com served millions of people in conducting crypto payments in the United Kingdom.<\/p>\n

Also Read: ADA Price Prediction As Declines Sweep $0.24, Final Deep Before Bull Run?<\/strong><\/a><\/p>\n

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Anti-Money Laundering Concerns<\/h2>\n

According to the report, the crypto exchange received two letters from the credit card processing company on August 9 and 11. The company\u2019s chief executive officer Guillaume Pousaz quoted<\/a> issues surrounding Binance\u2019s anti-money laundering, sanctions and compliance control as the reason for discontinuing the service. The letters, which mentioned that the contract would end by August 17, 2023, detailed concerns of regulatory issues in several jurisdictions.<\/p>\n

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In response, Binance is reportedly heading towards taking legal action against the company over the reasoning behind the contract termination. Recently, the exchange\u2019s CEO CZ said that the platform would like to traverse carefully within the legal framework in various jurisdictions. In the context of the grand plan to expand the scope of the crypto market<\/a> to newer audiences, the exchange had effectively lost, at least temporarily, transactions worth around $400 million, based on data from recent months.<\/p>\n

Also Read: LUNC News: Terra Luna Classic\u2019s Vision For Revival And Better Governance<\/strong><\/a><\/p>\n

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Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com\/BitcoinReddy <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In a huge setback to Binance, United Kingdom based credit card processing company Checkout.com is learnt to have parted ways with the crypto exchange. According to a report from Forbes,\u00a0the world\u2019s top crypto exchange by volume had been informed by the company about the intent to terminate contract over regulatory concerns. This could likely be […]<\/p>\n","protected":false},"author":2,"featured_media":105064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-139014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=139014"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139014\/revisions"}],"predecessor-version":[{"id":147884,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139014\/revisions\/147884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/105064"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=139014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=139014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=139014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}