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How to circumvent this FCA bullshit

Switching from one UK a$$licker bank to another is clearly not going to work, as Binance has had no choice but to terminate all forms of fiat deposits originating from the UK, regardless of which UK bank you’re using.

My current on-ramping options are:

* Coinbase (the spread and fees are fu*king awful, flaky service, no BEP2/20 transfers)
* Crypto.com (BEP2 transfers only)
* Kucoin (I’m currently not KYC’ed, BEP2 transfers only)
* AlphaVend (UK Bitcoin ATM vendor with terrible fees and prices, Bitcoin network transfers only)
* Trust Wallet (both BEP2 and BEP20 transfers)
* BlockFi (no BEP2/20 transfers)

OR

* Somehow get a non-UK bank account, and on-ramp using e.g. Euros

Although there are currently plenty of alternatives in the UK, as per the above list, my fear is that the FCA is not going to stop at Binance, and we will eventually be c@ck–blocked from crypto entirely, at which point the foreign bank account becomes the only remaining option.

Thinking long term, I need a bank that isn’t under the FCA’s thumb.

Thinking even longer term, fu*k the FCA, fu*k the UK banks, and frankly fu*k the UK entirely. I’m done. First chance I get, I’m leaving this sh*thole.

What do you think?

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12 Comments

  1. Yes. People are going into meltdown about Barclays and Santander but the true villains behind the curtain are the FCA with their punitive threats to the banks if they don’t comply with the FCA’s increasingly restrict AML bullshit legislation.

    In the UK law-abiding citizens are having payments frozen and accounts locked up because of ‘suspicious activity’. I thought being innocent until proven guilty was a fundamental legal principle in the UK. Not with the FCA it seems.

  2. Completely agree, fuck this shit hole, run by corrupt fucking baboons. The email Santander sent was so fucking patronising too, will be closing my account with its pathetic 0.3% interest thanks.

  3. My current workaround is through swissborg, verification is v quick, they have a 1% exchange fee and then despite what there website says each currency has a fixed withdrawal fee.
    Ive found the cheapest being xrp is only 0.25xrp for the withdrawal independent on amount but needs to be above 20xrp.

    However for the future if swissborg gets blocked, Gemini is fca approved so they wouldn’t block them and then maybe transfer from gemini to binance.

  4. Buy XRP then transfer XRP try to make a (XRP network withdrawal) onto your MetaMask wallet then go to binance bridge on binance.com then convert in to XRP bep20. Hay presto you will be able to exchange your XRP on pancake for anything you would like.

    XRP is currently cheap and XRP network gas fees are low its like 0.01 XRP.

  5. I have been digging deeply in to BCS peg BEP20… Due to binance having regulations issues.

    Trying to find alternative options open. Binance is the first exchange to be FCA hit list soon crypto.com and coinbase will be next. To the Guys here in England we need to start making appeal to our local councils and get in touch with MPs regards to our rights of finance and our freedom in the open market in crypto.

  6. Santander would not let me use any exchange and declined all of them. Swissborg seems to work and tested with ยฃ10 which I purchased and transferred all fine. Just donโ€™t like the process of transferring, would rather use my card. Will try a larger amount tonight and see.

  7. There is no circumventing it the government has eyes on every single one of us and they’re not gonna stop until they get every single 1 of us and they will get every single 1 of us And yes I mean Americans Germans canadians all of us they’re coming for everybody And if they have to they’ll band together to make sure that they do

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