Regulatory pressure against Binance is rapidly escalating with banking partners readying to suspend withdrawals with its US unit.
Binance.US is suspending US dollar deposits and its banking partners are preparing to pause fiat withdrawal channels as early as June 13, according to a social media post by the crypto exchange.
«The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry,» Binance said in the tweet which noted that trading, staking, deposits and withdrawals in crypto remain fully operational.
Binance is facing rapidly increasing regulatory pressures after being sued by the Securities and Exchange Commission (SEC) on June 5, one day before the US regulator also sued rival Coinbase. Separately, the US Commodity Futures Trading Commission (CFTC) also filed a lawsuit in March over numerous alleged violations, accusing the crypto exchange of operating through an «intentionally opaque common enterprise».
