Binance Halts Trading in Dollars on Binance.US
The New York Times 2023-06-09 05:44:42 • 3 mins
Banks have signaled that they will stop working with the companys American branch, it said, after the Securities and Exchange Commission sued it this week.
The American branch of Binance, the giant cryptocurrency exchange, said late on Thursday that it would no longer allow customers to trade on its platform using U.S. dollars, after its banking partners cut the firm off in response to a crackdown by federal regulators.
The move is a major blow to Binance.US, the American arm of the worlds largest crypto exchange. One of the main functions of an exchange is allowing users to convert their traditional money into digital currencies like Bitcoin or Ether. Binance will no longer be able to offer that service in the United States.
