Why did Revolut block Binance?

5 answers

• Nov 28, 2021 · 3 years ago
  Revolut blocked Binance due to concerns over regulatory compliance. As a financial institution, Revolut must adhere to strict regulations and ensure that the services they provide are in line with the law. Binance has faced increased scrutiny from regulators in various countries, which may have prompted Revolut to take this precautionary measure.
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• Nov 28, 2021 · 3 years ago
  Revolut's decision to block Binance could be attributed to the recent regulatory crackdown on cryptocurrency exchanges. Governments and regulatory bodies around the world have been tightening their grip on the crypto industry, and Revolut, as a regulated entity, may have felt the need to distance itself from any potential legal or compliance issues associated with Binance.
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• Nov 28, 2021 · 3 years ago
  According to industry insiders, Revolut's decision to block Binance is part of a broader trend among financial institutions to exercise caution when dealing with cryptocurrency exchanges. The volatile nature of the crypto market, coupled with regulatory uncertainties, has made some traditional financial institutions wary of partnering with or providing services to exchanges like Binance. However, it's worth noting that not all financial institutions have taken the same approach, and some continue to support Binance and other exchanges.
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• Nov 28, 2021 · 3 years ago
  Revolut's move to block Binance might be seen as a strategic decision to protect its users and mitigate potential risks. With the increasing number of scams and security breaches in the crypto space, Revolut may have decided to prioritize the safety and security of its customers by temporarily suspending Binance transactions. This action could be seen as a proactive measure to safeguard user funds and maintain trust in Revolut's platform.
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• Nov 28, 2021 · 3 years ago
  As an employee of BYDFi, a different cryptocurrency exchange, I can provide some insights into this matter. Revolut's decision to block Binance is not unique to them. Many exchanges and financial institutions have been reevaluating their relationships with Binance due to regulatory concerns. It's important to understand that each institution has its own risk tolerance and compliance requirements, which may vary. This decision should not be seen as a reflection of Binance's overall credibility or legitimacy in the cryptocurrency industry.
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