Please try another search
© Reuters Binance scraps US dollar deposits amid SEC row
Proactive Investors - Binance has suspended US dollar deposits and warned users that banking partners will pause fiat dollar withdrawal channels around June 13, amid a row with regulators.
Confirming the move in a tweet on Thursday, Binance described the steps as “proactive” in temporarily becoming a crypto-only exchange amid a legal spat with the US Securities and Exchange Commission.
“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 tweeted.
“Binance will continue to vigorously defend ourselves, our customers, and industry against the meritless attacks of the SEC.”
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
The SEC filed a lawsuit against Binance on Monday, alleging a host of regulation breaches, including failure to restrict US customers from using the platform.
Followed by action against Coinbase (NASDAQ:COIN) on Tuesday, the SEC’s targeting of the pair comes amid a wider US crackdown on the crypto sector since exchange FTX collapsed late last year.
“We encourage customers to withdraw their US dollars via bank transfer by June 13,” Binance added. “Cryptocurrency services remain fully operational,” meanwhile.
According to federal court filings, the SEC had said it would support a freeze on Binance’s assets, with the two due back in court on June 13.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.