Binance.US is being cut off from its banking partners in the fallout from a Securities and Exchange Commission lawsuit against the cryptocurrency exchange.
In an email to customers, the platform said its payment and banking partners have signaled an intent to pause US dollar fiat channels as early as June 13.
That means “our ability to accept USD fiat deposits and process USD fiat withdrawals will be impacted,” the company said, while adding that it maintains 1:1 reserves for all customer assets.
Source: Binance US to Be Cut Off From Banking System After SEC Crypto Suit – Bloomberg
