In the Eye of the Storm: Binance.US Shifts to Crypto-Only Exchange Amidst Regulatory Pressure

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).

I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.

Here is a screenshot of the email I received last night: