- Binance.US suspends some services
- Binance USD stablecoin pairs affected
- Temporary halt amid CFTC lawsuit
As the global banking turmoil continues to create uncertainty, Binance.US, the American branch of the popular cryptocurrency exchange, has announced the suspension of certain services. The platform’s status dashboard revealed on March 31 that Binance USD stablecoin pairs, accessible through the One Common Billing System (OCBS), have been disabled.
Users will be impacted by the temporary halt of BUSD crypto deposits and withdrawals, as well as the buying, selling, and converting of crypto options. Binance.US is actively investigating the matter and has emphasized that the suspension is only temporary.
This development follows closely on the heels of Binance.US’s international affiliate, Binance, being targeted by the U.S. Commodity Futures Trading Commission (CFTC) with a lawsuit. The CFTC filed the suit against both Binance and its CEO, Changpeng “CZ” Zhao, on March 27, alleging trading violations. The regulatory body argues that the exchange failed to meet compliance requirements by neglecting to register with the CFTC.
In other news, the European branch of the worldwide trading platform, FTX EU, has developed a website intended particularly to handle withdrawal requests from European consumers. This development occurs roughly five months after the platform faced insolvency and suspended operations at the beginning of November.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
