Binance US, the American arm of the worldwide cryptocurrency exchange, has revised its terms of service, disallowing direct withdrawals in US dollars. Users are now obligated to convert their USD to stablecoins or other digital assets for withdrawal. This change contradicts their 2019 assurance that USD deposits were insured by the FDIC, an assurance no longer in effect. Binance's regulatory compliance is being questioned, as the firm has previously withdrawn from markets following the introduction of new crypto regulations.
Crypto giant Binance's US affiliate halts direct dollar withdrawals https://t.co/FO0qXOesrX https://t.co/kkPUyp1LUK
Crypto giant Binance's US affiliate halts direct dollar withdrawals https://t.co/lPtsi060Gq https://t.co/3nEbiznWWg
๐ฃ Latest News: Binance US asks users to convert USD into stablecoins for withdrawals #news #cryptonews #crypto #stablecoins
๐บ๐ธ Binance US has updated terms of service, noting that users โmay convertโ their USD funds to stablecoins or other digital assets in order to withdraw funds. https://t.co/CN1FNd1Pjc
Crypto giant @binance US affiliate halts direct dollar withdrawals In early June, Binance US had halted dollar deposits, after the US Securities and Exchange Commission asked a court to freeze its assets. https://t.co/rGJBX0gKaL
https://t.co/TUa6o1PcAP updates its terms of use to stop dollar withdrawals, saying users must convert "US dollar funds to stablecoin or other digital assets" (@iamsandali / CoinDesk) https://t.co/9jMLstnSXE ๐ซ Subscribe: https://t.co/OyWeKSRpIM https://t.co/nmtcpCYnuK
#binance US suspends USD withdrawals
Binance: โWe are fine.โ Also Binance: โWe are suspending all USD withdrawals.โ
JUST IN: ๐บ๐ธ #Binance US suspends all USD withdrawals.
https://t.co/Rpd3Aax9ZU Halts Direct Dollar Withdrawals - CoinDesk U.S. dollar deposits in user wallets are no longer eligible for FDIC insurance protection, according to the updated terms of use. https://t.co/StK0MGQA09
After announcing that USD deposits were insured by the FDIC in 2019, @BinanceUS has now updated its terms of service to indicate that that's no longer the case. Read more below: https://t.co/QZXwaCH3vS
.@BinanceUS updated its terms of use to reflect that users can no longer withdraw $USD directly from the platform, effective immediately. @iamsandali reports. https://t.co/chiBOaasX9
Binance US Says Crypto Deposits Are No Longer FDIC Insured โบ https://t.co/TwB2Kr5t1a https://t.co/TwB2Kr5t1a
Binance is incapable of complying with basic regs. Every time a jurisdiction introduces crypto rules, it pulls out of the market https://t.co/q79VRi5Su5 https://t.co/3K29WO8cKa