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[Bitvisitor]

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).
I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.



Here is a screenshot of the email I received last night:

 

[kazactanmeni]

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).
I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.



Here is a screenshot of the email I received last night:
View attachment 290567

What impact will the transformation of Binance.US into a crypto-only platform have on the wider cryptocurrency market? Will it lead to increased scrutiny from regulators on other exchanges as well?

 

[zhangranga88]

I'm disappointed with Binance.US's decision to become a crypto-only platform. It limits the options for users who prefer to have the flexibility of trading both cryptocurrencies and fiat currencies. I hope they find a way to address the regulatory concerns without sacrificing this functionality

 

[camtranu2nh8]

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).
I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.



Here is a screenshot of the email I received last night:
View attachment 290567

I support Binance.US's decision to transform into a crypto-only platform. It shows their commitment to adapting to the regulatory environment and ensuring the long-term sustainability of their operations

 

[zactrainhd8]

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).
I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.



Here is a screenshot of the email I received last night:
View attachment 290567

Well, it seems like Binance.US is going all-in on crypto. Who needs fiat when you can swim in the sea of digital currencies? Time to say goodbye to USD and embrace the world of stablecoins

 

[lamxanutnah]

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).
I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.



Here is a screenshot of the email I received last night:
View attachment 290567

Thank you for sharing this important update. It's crucial for users of Binance.US to be aware of these changes and take the necessary steps to withdraw their USD balances before the deadline

 

[Bitvisitor]

I was glad to help

 

[quachcuong192]

An unexpected turn of events has sent shockwaves through the cryptocurrency community as Binance.US, the popular American exchange, announces its transformation into a crypto-only platform amidst mounting legal pressure from the Securities and Exchange Commission (SEC).
I was getting ready for bed last night when I saw an email from Binance.US.

I opened the email and I was quite shocked to find out that, due to the recent legal pressure from the Securities and Exchange Commission (SEC), Binance.US will be transforming into a crypto-only platform.

As U.S. banks prepare to cut ties with Binance.US, the exchange is encouraging all customers to withdraw their United States Dollars (USD) from the platform ASAP.

USD deposits have been suspended and USD trading pairs will be delisted on June 12th.

If a customer still has a USD balance after June 15th, the assets can supposedly be converted to a withdrawable stablecoin.



Here is a screenshot of the email I received last night:
View attachment 290567

I think it's a smart move for Binance.US to transform into a crypto-only platform, considering the mounting legal pressure. This will allow them to focus on their core business and ensure compliance with regulations.

 

[Niftyicon]

I'm disappointed with Binance.US's decision to become a crypto-only platform. It limits the options for users who prefer to have the flexibility of trading both cryptocurrencies and fiat currencies. I hope they find a way to address the regulatory concerns without sacrificing this functionality

I doubt that it was an easy decision to make considering what the effects would be on the users of the platform but it was out of the hands of binance. It was either this decision or to keep fighting suits against them all the time.
Users are likely to adjust and since the future is yet to be determined, the decision may be reversed later on.