Binance lost another partner!

London-based credit card payment operator Checkout.com has shut down ties to Binance, the world’s largest cryptocurrency exchange. The breakup, which came through two letters sent earlier this month, it was revealed in a Forbes report, and later confirmed by TechCrunch.

Checkout.com, valued at $40 billion as of January 2022, cited concerns that derived from "reports on regulatory actions and orders in relevant jurisdictions", as well as "ask partner" as reasons for termination. The letters also highlighted concerns about Binance’s alleged problems with anti-money laundering, sanctions and controls compliance.

In response to the termination, Binance expressed disagreement with Checkout.com’s claims and currently “is considering our options for legal action,” a Binance spokesperson said. Despite ongoing challenges, Binance remains committed to continuing cooperation with regulators and partners around the world.

This bypass follows a series of regulatory challenges facing Binance. Ago just a few months ago, the US Securities and Exchange Commission (SEC) raised 13 lawsuit against Binance and its CEO, Changpeng Zhao, over allegations of misleading regulators about his operations and other securities violations. IN in another case, Binance recently announced the shutdown of its crypto payment service, Bifinity, and disabling your Binance Connect service.

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