Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now! Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more. The crypto industry has attacked Gary Gensler in recent days after the SEC sued two of the world's largest crypto exchanges, Coinbase and Binance, for allegedly breaking securities laws by failing to register their operations with the agency.Ĭrypto companies started out in a regulatory gray area, but the SEC under Gensler has steadily asserted its jurisdiction over the industry, arguing most tokens are securities and should be subject to the same disclosure rules. Meanwhile, the agency on Thursday strongly rebutted criticism that the agency is trying to crush the crypto industry, and said many companies in the space had made a 'calculated economic decision' to flout its rules.

in Singapore on Friday, extending a recent period of underperformance of wider digital-asset markets. We will continue to vigorously defend ourselves,' Binance.US said in an email to its customers.īNB, a crypto token native to Binance, fell about 2.5% as of 10:45 a.m. In May, Bitcoin prices fell to a 20% discount on the Australian branch of Binance when local banking and payments partners suspended their services causing a rush to sell and cash out.“The allegations made by SEC are unjustified.

The company has also had problems with banking partners in Australia. Of the 150 crypto assets that Binance.US supports, only BTC, ETH, ADA, BNB, LTC, MATIC, SOL, VET, USDC and USDT will be tradable against the dollar. However, it noted that it would remove most “USD Advanced Trading pairs” from the platform on the same date. Related: Binance.US coins trade at premium amid litigation fears, fiat gateway issues The announcement also included details of more USDT trading pairs with ANKR, DAI, DASH, HBAR, ICX, IOTA, RVN, WAVES, XNO, XTZ and ZIL being added on June 26. While USD withdrawals remain fully operational, we encourage you to use, withdraw, or convert your… /LWDWVvwtoq- Binance.US Customer Support June 22, 2023Īny remaining USD balances held in customer accounts could be converted into Tether ( USDT) at a future date, it noted. Reminder: As we transition to a crypto-only exchange, will remove select USD Advanced Trading pairs from our platform on 6/26 at 8 p.m. “While USD withdrawal remains fully operational on the platform today, we expect our banking partners to discontinue that service in the near future.”īinance.US is also encouraging its users “use, withdraw, or convert your USD to a stablecoin to continue crypto-to-crypto trading,” as it transitions to a crypto-only exchange.

In its most recent statement, Binance.US has encouraged any customers that have a failed withdrawal attempt to resubmit their requests “as our systems remain fully operational,” but cautioned that the relief may not be permanent. On June 9, the exchange suspended dollar deposits and notified its customers of an incoming pause to fiat withdrawal channels amid its ongoing battle with the Securities and Exchange Commission.Īt the time, it also warned customers that its banking partners were preparing to pause fiat withdrawal channels as early as June 13 however, that didn’t end up coming to pass as yet. dollar withdrawal requests are expected to go back to their normal five-business-day turnaround. The reportedly independent subsidiary of crypto exchange Binance told customers in a June 22 update that its system remains fully operational and that U.S. dollar withdrawal issues after working with its banking partners but warns the relief may not last. United States crypto exchange Binance.US has informed customers it has resolved its U.S.

Binance withdrawal limit