Binance.US Faces Hardship Amid SEC Lawsuit: Major Shift to Cryptocurrency-Only Exchange Looms

Binance.US, the U.S. wing of the global cryptocurrency exchange Binance, is facing serious difficulties after a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The most recent indication suggests the exchange might soon end its relationships with banking partners in the U.S. Binance.US Shifting to Cryptocurrency-Only Exchange Binance.US recently announced through a screenshot of an email shared on its official Twitter account that its banking and payment partners plan to suspend U.S. dollar channels from June 13th. The exchange declared that it would halt U.S. dollar deposits as of today. On the other hand, they disclosed plans to transition to a cryptocurrency-only exchange soon. In its tweet, Binance.US accused the SEC of waging an “ideological campaign” using “extremely aggressive and intimidating tactics” against the U.S. cryptocurrency industry. The exchange stated its decision to temporarily suspend U.S. dollar fiat channels is meant to protect its customers from excessive regulatory […] The post Binance.US Faces Hardship Amid SEC Lawsuit: Major Shift to Cryptocurrency-Only Exchange Looms appeared first on COINTURK NEWS.