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Binance.US Unblocks Withdrawals

Binance.US Unblocks Withdrawals

Binance.US has released a statement informing clients that USD withdrawal orders may be stopped in the near future, therefore users should use, withdraw, or convert fiat into stablecoins in order to continue trading crypto.

On June 9, the platform had suspended USD deposits and requested customers to withdraw their funds by June 13.

Fortunately, this fear had not been realized since then. In addition, the US division of Binance announced the delisting of cryptos against the US dollar, with the exception of BTC, ETH, ADA, BNB, LTC, MATIC, SOL, VET, USDC and USDT.

The US Securities and Exchange Commission (SEC) sued Binance and its CEO Changpeng Zhao on June 5, accusing them of selling unregistered securities, and on June 6, it filed a request to freeze the digital assets of Binance.US.

Later on June 14, a court order mandated the SEC and the crypto exchange to reach an agreement on the protection of client assets while allowing the platform to keep operating.

Eventually, both parties agreed a settlement regarding the client assets and it was approved on June 17.