Binance.US Halts Direct Dollar Withdrawals

Sandali Handagama reports via CoinDesk: Binance.US users can no longer withdraw dollars directly from the platform after the exchange updated its terms of use on Monday. "In the event that customers wish to withdraw U.S. dollar funds from their account, they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn," the email said. In early June, the firm suspended dollar deposits, saying the U.S. Securities and Exchange Commission's (SEC) "extremely aggressive and intimidating tactics" against the crypto industry had left banking partners reluctant to engage with the sector. In the same message, Binance.US warned customers that its banking partners were preparing to pause dollar withdrawals as early as June 13.

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