Binance.US Suspends Dollar Deposits amid Allegations Filed by SEC

Binance.US, an affiliate of the world’s largest crypto exchange Binance, on Thursday said that it suspended its U.S. dollar deposits and that its banking partners are preparing to pause fiat dollar withdrawal channels as soon as next Tuesday.

The announcement to suspend its deposits came just days after Binance and CEO Changpeng Zhao were sued by the SEC and asked a Washington, D.C. federal court for an emergency order to freeze the assets of Binance’s U.S. subsidiary for U.S. securities violation.

Despite the suspension for deposits, Binance.US wrote in a note that Trading, staking, deposits and withdrawals in crypto would remain fully operational.