Binance.US shifts to a pure "cryptocurrency" exchange! USD deposits temporarily suspended, fiat withdrawals to stop on 6/13

Following serious allegations from the U.S. Securities and Exchange Commission (SEC) this week, Binance.US not only delisted some trading pairs yesterday, but also announced today the suspension of USD deposits and withdrawals, transitioning into a cryptocurrency-only exchange.

Binance.US Suspends USD Deposits and Withdrawals, Shifts to Cryptocurrency-Only Services

According to an announcement from Binance.US, the platform has temporarily suspended USD deposits today in order to protect customers and the platform. Additionally, Binance.US's banking partners are expected to halt USD withdrawal channels for fiat currency on 6/13, urging users to withdraw their USD from the platform promptly.

Following this, Binance.US will transition to operate solely as a cryptocurrency service exchange. Cryptocurrency trading, staking, and deposits/withdrawals will continue to function normally, with the assurance that user assets will remain backed 1:1.

To accommodate this change, Binance.US will delist all USD trading pairs next week. Furthermore, any remaining USD balances on the platform after 6/15 will be converted to stablecoins.