UK based Payment Company Ends Partnership with Binance
Checkout(dot)com stops working with Binance due to concerns; Binance faces challenges globally.
London-based payment company, Checkout(Dot)com, has stopped working with Binance, a big cryptocurrency exchange. This was confirmed by news sources like Forbes and TechCrunch.
Checkout(dot)com, which was worth $40 billion in January 2022, said they stopped the partnership because of concerns from regulators and their partners. They were also worried about Binance not following some important rules related to money and business.
Binance didn't agree with what Checkout(dot)com said and is thinking about taking legal actions. However, Binance wants to keep working with regulators and partners worldwide.
Recently, Binance had other problems too. The U.S. regulator filed complaints against Binance and its leader, Changpeng Zhao, for not being truthful about their business. Binance also had to close some of its services.
Apart from the U.S., Binance had problems in Europe. It ended its partnership with a European payment company called Paysafe and didn't get permission from Germany's regulator.
In the U.S., Binance's American branch faced issues when banks stopped their services after complaints from the U.S. regulator. The U.S. government is also thinking about taking action against Binance.
With all these issues, it's clear that the world of cryptocurrency needs better and clearer rules.
