Binance.US, the United States-based subsidiary of the global cryptocurrency exchange Binance, has announced that it will suspend dollar deposits and withdrawals on June 13, 2023. The company made this decision in response to the regulatory scrutiny it has faced recently.
The move to suspend dollar deposits and withdrawals is likely a result of Binance.US's efforts to ensure compliance with U.S. regulations. The cryptocurrency industry has been subject to increased regulatory attention, with authorities aiming to establish clearer guidelines and frameworks for the operation of exchanges and other crypto-related services.
By temporarily suspending dollar transactions, Binance.US may be taking proactive measures to address any regulatory concerns and enhance its compliance procedures.
