HSBC UK is blocking customers from making payments to Binance, report says

• HSBC is blocking its UK customers from making credit card payments to Binance, CoinDesk reported Tuesday.
• The move came a month after the Financial Conduct Authority banned Binance's regulated operations.
• Binance has been facing heightened regulatory scrutiny from authorities around the world recently.

HSBC is blocking its customers in the UK from making credit card payments to cryptocurrency exchange giant Binance, CoinDesk first reported on Tuesday.

The decision of the bank came over a month after the Financial Conduct Authority banned Binance's regulated operations in June. British cryptocurrency investors, however, according to the financial watchdog, can continue using the company's online exchange platform for regular trading.

"While we don't comment on individual cryptocurrency exchanges in the media, we do regularly update customers on changes to our products and services that may impact them", a spokesperson for the bank said in a statement to Insider.

HSBC joins other banks, such as Barclays and Santander, in blocking payments to Binance.

Binance, in the past months, has been under heightened scrutiny from regulators around the world with some banning it entirely.

The world's largest cryptocurrency exchange has long touted its decentralized operations and has no formal headquarters.

While it was founded in China and officially domiciled in the Cayman Islands, the firm's scattered physical presence has irked regulators.

But on July 27, its CEO Zhao Changpeng expressed his intention of cooperating with global regulators.