• Binance.US resolves USD withdrawal issues and warns of potential discontinuation
• Exchange encourages users to withdraw or convert their USD balances into stablecoins
• Binance.US removing crypto-fiat trading pairs, adding more USDT trading pairs
Binance.US Resolves Withdrawal Issues
Binance.US, a cryptocurrency exchange based in the United States, has resolved their recent issues with US dollar withdrawals through cooperation with their banking partners. With this announcement, USD withdrawals are expected to be processed within the usual timeframe of less than five business days.
Potential Discontinuation of Services
Binance.US also issued a cautionary statement, informing customers that the relief from withdrawal issues may be temporary. The exchange anticipates that its banking partners will discontinue USD withdrawal services in the near future. Given this warning, Binance.US encourages users to withdraw or convert their USD balances into stablecoins to continue trading on the platform.
Removing Crypto-Fiat Trading Pairs
Binance.US is moving towards becoming a crypto-only exchange and has been slowly removing crypto-fiat trading pairs from its platform. It plans to convert customers’ USD balances into the popular stablecoin, Tether (USDT), to make trading easier.
Adding More USDT Trading Pairs
The recent announcement also highlighted the addition of more USDT trading pairs, including ANKR, DAI, DASH, HBAR, ICX, IOTA, RVN, WAVES, XNO XTZ and ZIL effective from June 26th . However ,the exchange specified removing most “USD Advanced Trading pairs” from the platform on the same date . Out of 150 cryptocurrencies supported by the exchange , only BTC , ETH , ADA , BNB , LTC , MATIC SOL VET , USDC and USDT will remain tradable against the US Dollar .
SEC Lawsuit Against 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 . Binance . US obtained court consent to resume its US operations when Judge Amy Bermant Jackson rejected SEC’s request for a temporary restraining order against exchanges assets as part of agreement only employees would have access tokens stored at third party storage providers .