The original post: /r/cryptocurrency by /u/lewkir on 2024-11-22 14:09:27.

My friend has a fairly large sum of crypto in Binance that they’d like to withdraw into their UK bank account, however, Binance is not regulated in the UK so we are not allowed to withdraw from it.

Their only other wallet is Coinbase which for some reason has been blocked from withdrawing. (they will not explain why, their wallets were empty there for a while so possibly it was because of a sudden transfer of a fair amount of crypto in their last attempt to withdraw)

Is there a way to get at this money? It seems mad to be so blocked from accessing your own funds.

They’re worried that if they open a new account with a different vendor it’ll look suspicious when suddenly 100s of pounds of crypto come in and are instantly withdrawn, even though it was all acquired legitimately, possibly triggering the same issue as with Coinbase.