Binance.US Halts Services Amid Global Banking Chaos

1. Binance.US suspends some services
2. Binance USD stablecoin pairs affected
3. 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:

• CZ Shuns Coinbase Comparison After Binance.US Drops BTC Fees
• SEC Objects to Binance.US on Voyager Acquisition Plan
• CFTC Chairman To Bolster Regulation Against Crypto
• CFTC Chastised For ‘Blatant Regulation Via Enforcement’
• CFTC Chair Clashes With SEC Chair, Says Ethereum Is a Commodity