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<p class="is-style-lead">In a move to streamline its buy, sell &amp; convert service, Binance.US has announced a reduction in the number of supported convert trading pairs, bringing the total to 226. </p>



<p>The announcement came amid the complaint filed by the U.S. Securities and Exchange Commission (SEC) on June 5.</p>



<h2 class="wp-block-heading" id="responding-to-the-complaint">Responding to the complaint</h2>



<p>On June 7 Binance.US released <a href="https://support.binance.us/hc/en-us/articles/15133607064983-Binance-US-Will-Remove-Select-Trading-Pairs-Has-Paused-OTC-Trading#:~:text=After%20careful%20consideration%2C%20Binance.US,paused%20our%20OTC%20Trading%20Portal." target="_blank" rel="noreferrer noopener">a statement</a> announcing the removal of several trading pairs, many of which are popular tokens. </p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">JUST IN: <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> US announces plan to delist over 100+ trading pairs, mainly with <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Tether</a>, and has paused OTC trading. <a href="https://t.co/ZVWIgu4Xw8" target="_blank">pic.twitter.com/ZVWIgu4Xw8</a></p>&mdash; WhaleWire (@WhaleWire) <a href="https://twitter.com/WhaleWire/status/1666489677325426690?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 7, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>The new policyis set to go into effect on Thursday, June 8.</p>



<p>However, users can still utilize buy, sell &amp; convert for a range of assets, including USDT, USDC, <a href="https://crypto.news/price/bnb/">BNB</a>, <a href="https://crypto.news/price/ethereum/">ETH</a>, <a href="https://crypto.news/price/bitcoin/">BTC</a>, FET, ATOM, APT, MATIC, LTC, DOGE, SHIB, FTM, APE, SOL, LINK, ADA, DOT, GALA, AVAX, and now USD for Convert. Additionally, the maximum trade amount for buy, sell &amp; convert has been updated to $10,000.</p>



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<p>Meanwhile, Binance.US has temporarily halted its OTC trading portal services. The platform intends to inform users when OTC trading becomes available again, with updates expected in the upcoming weeks and months.</p>



<h2 class="wp-block-heading" id="keeping-user-holdings-safe">Keeping user holdings safe</h2>



<p>In the latest development of the Binance lawsuit, the regulatory agency has filed a request with a federal court in Washington D.C. to initiate a freeze on Binance.US&#8217;s entire asset holdings and repatriate all funds belonging to its customers, including both cryptocurrency and fiat currency.&nbsp;</p>



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<p>The regulator argues that this action is necessary to &#8220;safeguard the assets from being dispersed and ensure funds are available for potential judgments, considering the defendants&#8217; extensive history of non-compliance and disregard for U.S. laws.&#8221; </p>



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Binance.US pauses OTC trading, removes numerous trading pairs

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