JAKARTA - The United States branch of the Binance crypto exchange has stopped withdrawing dollars by its clients from the platform, in accordance with the latest conditions announced on Monday, October 16.
In June, Binance.US stopped the dollar deposit, after the US Securities and Exchange Commission (SEC) asked the court to freeze its assets.
"In the event that customers want to withdraw US dollars from their accounts, they can do so by converting US dollars into stablecoins or other digital assets, which can then be withdrawn," the page of the requirement reads.
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Binance.US has not yet responded to Reuters' request and other media for comment on the report. The news itself was first reported by Coindesk.
In June, the SEC sued Binance, CEO and founder Changpeng Zhao, as well as Binance.US operations, on charges in 13 counts that Binance had been involved in an "trick network," inflating trade volume artificially, and diverting customer funds.
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