Americas’ First Mover: Binance.US ceases to accept dollar deposits.
In response to pressure from the U.S. Securities and Exchange Commission (SEC), which this week issued a significant enforcement action against the company, Binance.US has announced that it would temporarily become an all-crypto exchange as of June 13. The USD and deposits will be suspended as of June 9, according to a tweet from Binance’s U.S. branch, and trading pairs reliant on the USD will be delisted shortly after. It will still be possible to trade, stake, deposit, and withdraw cryptocurrency.
In line to the exchange, USD deposits will be stopped as of June 9 and USD-based trading pairs will be removed from the market shortly after.
Binance.US will continue to strongly defend ourselves, our customers, and the industry against the unjustified attacks of the SEC while remaining open to a constructive agreement that permits a flourishing digital asset marketplace in America, the exchange tweeted.
The value of BNB on Binance is unaltered at $260.24. The token, which the SEC claimed constituted a security, has decreased 15% during the past week.
The SEC requested a temporary restraining order to freeze specific assets connected to Binance.US on Tuesday. On June 13, the same day Binance, the two must appear in court once more to discuss the situation.US claims to be switching to a cryptocurrency-only exchange.
In addition, the SEC has charged Binance with moving $12 billion to firms run by CEO Changpeng Zhao, a charge that both Zhao and Binance denied.
