Share this article
Binance.US Suspends Use of Fiat as Legal Troubles Mount
The exchange says users should withdraw USD as soon as possible as the Securities and Exchange Commission engages in "extremely aggressive and intimidating tactics" against the company.
Updated Jun 9, 2023, 3:49 p.m. Published Jun 9, 2023, 4:07 a.m.
Binance.US says it's transitioning to an all-crypto exchange as of June 13, citing pressures from the U.S. Securities and Exchange Commission (SEC), which targeted the company with a major enforcement action this week.
In a tweet, the U.S. arm of Binance said it's temporarily transitioning to an all-crypto exchange, and the company said trading, staking, deposits and withdrawals in crypto remain fully operational.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
USD deposits will be suspended as of June 9, and USD-based trading pairs will be de-listed shortly after, the exchange said.
“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.
Binance's BNB coin remains stable at $260.24. The token, which was accused of being a security by the SEC, is down 15% over the last week.
On Tuesday, the SEC filed for a temporary restraining order to freeze certain assets tied to Binance.US. The two are due back in court on June 13 regarding the matter — the same day Binance.US says it's transitioning to an all-crypto exchange.
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.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Swings Wildly as Fed's Powell Straddles Labor Market and Inflation Issues
"Powell is threading the needle between their two mandates," said one analyst.
What to know:
- Crypto prices were volatile on Wednesday, erasing much of their gains following the Fed's rate cut earlier.
- In his post-meeting press conference, Fed Chair Jerome Powell took note of a labor market that might be weaker than previously thought, while also sounding cautious about gains made in fighting inflation.
Top Stories
