The US Securities and Exchange Commission (SEC) sued last Monday Binance for alleged violations of US law, prompting the crypto company’s US branch to advise their customers of their suspension of fiat money transactions beginning June 13.
This means that Binance US users will not be able to deposit or withdraw funds in USD.
The exchange assured users that only operations with digital currencies will remain available.
A similar situation also occurred in Australia in late May, which cut off the exchange’s access to the banking sector and left traders unable to replenish their wallets or withdraw funds in Australian dollars.
