As of June 13, Binance.US will no longer accept deposits and withdrawals in US dollars.
According to the exchange, they were forced to take this decision as a result of "extremely aggressive and intimidating tactics" by the US Securities and Exchange Commission (SEC).
Binance.US has suggested that any delays in processing withdrawals could be due to high trading volumes and bank closures over the weekend.
Cryptocurrency trading, staking, deposits and withdrawals remain fully available to exchange customers. Additionally, Binance US said it will continue to protect its customers and the industry from unwarranted attacks by the SEC without hesitation.
Representatives of the platform said that due to the SEC's hostile approach towards the digital asset sector, Binance.US and its banking allies have faced problems. Banking allies have announced their decision to restrict fiat access to the exchange, so deposits in US dollars will be discontinued.
Furthermore, fiat dollar pairs such as BTC/USD will be removed from the platform, leaving only trading instruments with USDT stablecoin available for use.
The SEC intends to halt trading of Binance.US assets, but customers have been assured that their assets are safe and sound and that transactions are still business as usual - deposits and withdrawals are made as usual.
US financial regulators have agreed to suspend Binance's resources, according to a filing with a federal court by the US Securities and Exchange Commission. The US Department of Justice also submitted a memorandum in support of the request to suspend Binance's assets.
Senators Elizabeth Warren and Chris Van Hollen have asked the US Department of Justice to launch an investigation into Binance, alleging that the cryptocurrency exchange may have lied to lawmakers about its operations.
