Binance.US suspends USD deposits, fiat withdrawal channels to be paused

In response to regulatory pressure, Binance.US announced on Thursday that it is temporarily suspending USD deposits.

The cryptocurrency exchange also informed its customers that its banking partners are preparing to pause fiat (USD) withdrawal channels, potentially starting from June 13.

The decision by Binance.US comes after U.S. financial regulators showed support for freezing the assets of the popular cryptocurrency exchange earlier in the day. The move is part of an ongoing effort by regulatory authorities to ensure compliance and enhance oversight in the cryptocurrency industry.

The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. https://t.co/AZwoBOgsqS and our business partners have not been spared in the use of these tactics, which has created… pic.twitter.com/rlIe6swIoY
— Binance.US 🇺🇸 (@BinanceUS) June 9, 2023

Customers of Binance.US are advised to stay updated with the latest announcements from the exchange regarding the suspension and any changes to withdrawal processes.b