A new statement came from Binance U.S., the US arm of Binance, which the SEC sued.
Beginning by stating that the SEC has started to use extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry, Binance US has announced that it will stop its banking partners from paying USD.
USD The suspension of payments will come on the same day that the US court hears discussions about a temporary restraining order that includes the SEC’s request to withhold the assets of Binance U.S.
It was stated that behind this decision was the SEC’s request to the court to cease Binance US assets.
“The SEC’s stance is creating challenges for the banks we work with.
As a result, to protect our customers and our platform, we are suspending USD deposits today and notifying our customers that our banking partners are preparing to discontinue fiat (USD) withdrawal channels as early as June 13, 2023.”
Stating that their priority is always their customers, Binance US stated that they only took these proactive steps for a while.
Noting that they hold 1:1 reserves for all client assets in the continuation of the Binance US statement. “Any interruption in withdrawals could be a result of increased volumes and weekend bank closures. In addition, trading, staking, deposits and withdrawals in crypto will remain fully operational.” said.
Finally, reminding once again that they are open to an efficient and productive compromise that enables a thriving digital asset market to function and exist in the United States, the stock market offers itself, its customers and cryptocurrency stated that they will continue to strongly defend the sector against the unfair attacks of the SEC.
The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. https://t.co/AZwoBOgsqS and our business partners have not been spared in the use of these tactics, which has created… pic.twitter.com/rlIe6swIoY
— Binance.US 🇺🇸 (@BinanceUS) June 9, 2023
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