Binance.US Cuts Ties With Banks, Now A Crypto-Only Platform
In its recent tweet, Binance.US shared the email copy which shows that its banking and payment partners have shown the intent to pause US Dollar fiat channels next week onwards from June 13. Binance.US said that starting today, they will start suspending USD deposits and other recurring buy orders. On the other hand, it plans for its transition to a crypto-only exchange very soon. advertisement In its post, Binance.US blamed the SEC for using “extremely aggressive and intimidating tactics” in its ideological campaign against America’s crypto industry. Binance said that its decision to suspend USD will help them protect their customers against the high-ended regulatory action. In its Twitter post, the exchange writes: “Our priority is, and has always been, our customers. We are taking these proactive steps as we–for a time–transition to a crypto-only exchange. To be clear, we maintain 1:1 reserves for all customer assets. Any...