Binance.US goes crypto-only after banking partners will no longer process USD
(Kitco News) - Binance.US, the American arm of the worlds largest crypto exchange, will no longer process U.S. currency, the company announced Friday.
On Monday, the U.S. Securities and Exchange Commission (SEC) filed a 13-charge lawsuit against Binance and its CEO, Changpeng Zhao (CZ) accusing them of operating an illegal securities trading platform in the U.S. and misusing customer funds.
The following day, a United States District of Columbia court Binance-US-assets.html">granted the SECs request for an emergency restraining order to freeze the assets of Binance.US. As a result of the freeze, Binance.US can no longer continue to process U.S. dollar deposits and withdrawals.