The FCA is concerned about the deal, the Binance gives access to the British payment network

The Financial Conduct Authority has stated that it was concerned about a deal that gives Binance access to a large British payment network, only a few months after the supervisory authority had warned that the exchange is a "considerable risk" for consumers.

Binance, one of the world's largest cryptoplatt forms, said that their users can “deposit now [Sterling].. About [The] Faster Payment Service”, an important British payment network after an agreement with the Paysafe payment group had made.

The agreement with Paysafe represents a step to restore important connections between Binance and the British financial system that were interrupted last summer after the FCA issued a consumer warning against the stock exchange and ordered it to stop all regulated activities in the country.

Some of the largest major banks in Great Britain, including Barclays and Santander, also decided to prevent their customers from sending money to Binance after the supervisory authority's complaint.

The FCA said that although it was informed about the Paysafe deal, it "remains" to "remain concerned about Binance". The regulatory authority said that it "had limited powers to raise objections to agreements of this kind".

"Paysafe is aware of our concerns and is subject to strict ongoing surveillance that corresponds to our approach for companies of this size. We cannot comment on this," added the FCA.

Paysafe refused to comment on the FCA's answer to the agreement. The operator of Faster Payments, Pay.uk, did not immediately respond to a request for comment.

Binance said: "We take our compliance obligations very seriously and work proactively and cooperatively with the regulatory authorities."

The warning of the British supervisory authority last year was the first a number of regulatory setbacks for the stock exchange. The market supervisory authorities in financial centers such as Hong Kong and Japan also issued warnings and restrictions last year. Binance does not have a fixed headquarters, but has a huge network of connected companies around the world that combine with financial groups so that consumers can move traditional currencies on and from the platform.

The FCA said in August that Binance's “complex and risky financial products” were “a considerable risk for consumers”. It was said that the British subsidiary of Binance “did not answer” some of its fundamental questions, which made it impossible to monitor the extensive group.

The CEO of Binance, Changpeng "CZ" Zhao, has promised to repair the relationships with the supervisory authorities and to get the stock exchange on course wherever it works.

While the British supervisory authority is working on introducing money laundering rollers for the crypto industry, companies based abroad can generally serve British customers without FCA supervision.

The stock exchange published instructions for its users on Tuesday, such as being able to deposit money from their British bank accounts via Faster Payments, a network of financial institutions that were set up to enable simpler inter -bank payments.

Philip Mchugh, CEO of Paysafe, said that the company, which is supervised by the FCA in Great Britain, would keep full control over the money laundering control and compliance tests for Bony customers. The stock exchange would be responsible for collecting the information that Paysafe needs to carry out these exams, he added.

"We were impressed, how committed she campaigned for changes," said Mchugh.

The crypto exchange has announced that it will renew its efforts to regulate official permits in Great Britain. In December, Binance sent messages to British customers in which they were asked to provide additional information in order to continue to be able to access risky derivatives and other functions on the platform, a step that the company said "would enable us to comply with the British financial regulations".