Binance.US announced on Tuesday that it is transitioning to an all-crypto exchange as of June 13, in response to the U.S. Securities and Exchange Commission’s (SEC) enforcement action against the company. In a tweet, the U.S. arm of Binance said that trading, staking, deposits, and withdrawals in crypto remain fully operational, but USD deposits will be suspended as of June 9 and USD-based trading pairs will be de-listed shortly after.
While we remain open to a productive compromise that enables a thriving digital asset marketplace in America, Binance.US will continue to vigorously defend ourselves, our customers, and the industry against the meritless attacks of the SEC, the exchange tweeted.
Despite the SEC’s accusations that Binance’s BNB coin is a security, the token remains stable at $260.24, down 15% over the last week. The SEC has also accused Binance of directing $12 billion to firms controlled by CEO Changpeng Zhao, a claim that Zhao and Binance both deny. The two are due back in court on June 13 regarding the matter.