As we know, Europe has some of the strictest, if not the most stringent, approval processes in the world, be they medicines, food or even cryptocurrencies. The Binance exchange itself was convinced of this, and it is doing less and less in Europe. As we know, Germany and the United Kingdom have been complaining about Binance in recent weeks or months, most recently Italy itself, whose securities regulator has issued a report stating that Binance has no right to operate in their territory.
As we are accustomed to European countries working very closely with each other, the first banks have already responded to this report. An example is the international British bank Barclays, which has decided to suspend all withdrawals or deposits on this exchange until further notice, while we can expect the number of banks or even countries in the EU to ban transactions on this exchange. The first country to fight Binance against suspicious activity was the United States last fall, which eventually ended with a complete ban on the company’s services in the area.