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<p><strong>As the SEC continues to harass the crypto industry, Binance.US could be preparing to leave the country for good.</strong></p>
<h2 style="text-align: center;" id="stopping-withdrawals">Stopping Withdrawals</h2>
<p>Binance.US, a cryptocurrency exchange, has made some <a href="https://support.binance.us/hc/en-us/articles/15133607064983-Binance-US-Will-Remove-10-Trading-Pairs-Has-Paused-OTC-Trading-Updated-" target="_blank" rel="noopener">important changes recently</a>. They have decided to suspend USD deposits and informed their customers that their banking partners will soon stop allowing the withdrawal of USD (fiat) funds, possibly starting on June 13.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. <a href="https://t.co/AZwoBOgsqS">https://t.co/AZwoBOgsqS</a> and our business partners have not been spared in the use of these tactics, which has created… <a href="https://t.co/rlIe6swIoY">pic.twitter.com/rlIe6swIoY</a></p>
<p>— Binance.US 🇺🇸 (@BinanceUS) <a href="https://twitter.com/BinanceUS/status/1666996908651323393?ref_src=twsrc%5Etfw">June 9, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="suspension-of-usd-deposits-and-potential-withdrawal-pauses">Suspension of USD Deposits and Potential Withdrawal Pauses</h2>
<p>The company decided to suspend withdrawals as the U.S. financial regulators froze Binance.US&#8217;s assets earlier on the same day. In response to a <a href="https://walletinvestor.com/magazinadmin/binance-lawyers-accuse-sec-chair-gensler/" target="_blank" rel="noopener">lawsuit</a> from the Securities and Exchange Commission (SEC), Binance.US initially planned to remove a significant number of trading pairs. However, after receiving feedback from the community, they have revised their plans and will now only delist 10 trading pairs.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en"><a href="https://t.co/31BUnE1rH2">https://t.co/31BUnE1rH2</a> to halt dollar deposits after SEC crackdown <a href="https://t.co/F3MoJi1FJR">https://t.co/F3MoJi1FJR</a> <a href="https://t.co/Cwv4i7f0kR">pic.twitter.com/Cwv4i7f0kR</a></p>
<p>— Reuters (@Reuters) <a href="https://twitter.com/Reuters/status/1667104369538416640?ref_src=twsrc%5Etfw">June 9, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="revised-delisting-plans-for-trading-pairs">Revised Delisting Plans for Trading Pairs</h2>
<p>The trading pairs that will be removed include ATOM/BTC, BCH/BTC, DOT/BTC, LRC/BTC, MANA/BTC, UNI/BTC, VET/BTC, XTZ/BTC, HBAR/BUSD, and ONE/BUSD. Despite this change, customers can still trade all other cryptocurrencies and USDT pairs. Binance.US has assured its users that their assets are safe and secure, and deposits and withdrawals are functioning normally.</p>
<h2 style="text-align: center;" id="temporary-pause-of-otc-trading-portal">Temporary Pause of OTC Trading Portal</h2>
<p>In addition to these changes, Binance.US has temporarily paused its OTC Trading Portal, which allows buyers and sellers to trade without using a public order book. The company emphasizes that customer assets remain secure and that the suspension of USD deposits and possible withdrawal channel pauses are measures taken to protect their users and platform.</p>
<h2 style="text-align: center;" id="assurance-of-asset-safety-and-normal-functionality">Assurance of Asset Safety and Normal Functionality</h2>
<p>Binance.US clarifies that it maintains a 1:1 reserve for all customer assets. If there are delays in processing withdrawals, it may be due to increased volumes and bank closures during weekends. However, trading, staking, deposits, and withdrawals in cryptocurrencies continue to be fully operational.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">This afternoon, the SEC filed a motion seeking a TRO and preliminary injunction against <a href="https://t.co/AZwoBOgsqS">https://t.co/AZwoBOgsqS</a> attempting to, amongst other things, freeze <a href="https://t.co/AZwoBOgsqS">https://t.co/AZwoBOgsqS</a> corporate assets. User assets remain safe and secure and the platform continues to be fully…</p>
<p>— Binance.US 🇺🇸 (@BinanceUS) <a href="https://twitter.com/BinanceUS/status/1666203325543374856?ref_src=twsrc%5Etfw">June 6, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="challenges-faced-and-commitment-to-defend">Challenges Faced and Commitment to Defend</h2>
<p>The company acknowledges the challenges it faces due to the SEC&#8217;s aggressive tactics against the digital asset industry. While the company is open to finding a compromise that supports a thriving digital asset marketplace in the United States, they are determined to defend themselves, their customers, and the industry against what they believe are baseless attacks from the SEC.</p>
<h2 style="text-align: center;" id="updates-on-trading-pairs-and-buy-sell-convert-offering">Updates on Trading Pairs and Buy, Sell &amp; Convert Offering</h2>
<p>To provide further updates, Binance.US has decided to remove select BTC and BUSD Advanced Trading pairs and streamline its Buy, Sell &amp; Convert offering. They have also paused the OTC Trading Portal for now. The maximum order amount for Buy, Sell &amp; Convert has been adjusted to $10,000. Customers are advised to review their trades and take appropriate action before the affected trading pairs are removed from Binance.US.</p>
<h2 style="text-align: center;" id="important-reminders-for-users">Important Reminders for Users</h2>
<p>It&#8217;s important to note that these changes only impact select assets and trading pairs for Advanced Trade and Buy, Sell &amp; Convert. Deposits, withdrawals, and general trade functionality for all assets remain unaffected. Binance.US will notify users when OTC trading becomes available again in the future.</p>

Binance.US Suspends USD Deposits and Delists 10 Trading Pairs

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