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Quick Tech News

QuickTechnics

by Alexander Fäh

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Binance.US halts dollar deposits following legal disputes with the SEC

 
  • The US Securities and Exchange Commission (SEC) sues cryptocurrency exchange Binance, posing an existential threat to the company. The lawsuit includes allegations of artificially inflated trading volumes and diversion of customer funds.

  • Binance.US, the partner of Binance, halts dollar deposits and urges customers to withdraw their dollar balances by the specified date. The SEC has requested the freezing of Binance.US's assets, causing uncertainty and nervousness in the cryptocurrency markets.

  • Binance emphasizes its vigorous defense and highlights that, as an international exchange, it is not fully subject to US legal regulations. For now, the Bitcoin price shows little reaction to the development, but the impact of SEC regulation is being closely watched.

 

Binance.US halts dollar deposits following SEC lawsuit.

The U.S. subsidiary of Binance halts dollar deposits due to a lawsuit by the U.S. Securities and Exchange Commission (SEC); Image: The Wall Street Journal

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