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Binance’s subsidiary in the US, Binance.US, has informed customers that its problems with USD withdrawals have been resolved. According to the exchange, the problems were resolved after working with its banking partners. The news comes days after the exchange reached a deal with the US SEC not to freeze its assets.

Binance.US stated that its system is still fully functional and that USD withdrawal requests are anticipated to resume processing within five business days. However, the exchange has cautioned its customers that the relief may not last.

In the midst of its ongoing dispute with the US Securities and Exchange Commission (SEC), Binance.US suspended US dollar deposits on June 9 and informed its users that fiat withdrawal withdrawals would soon be unavailable.

At the same time, customers were also alerted that Binance banking partners were getting ready to halt fiat (USD) withdrawal channels as early as June 13 although nothing of the sort has happened as of yet.

In its most recent statement, Binance.US has asked any users who had unsuccessful withdrawal attempts to try again “as our systems remain fully operational,” but it also issued a warning that the relief might not last indefinitely.

In anticipation of the banking partners discontinuing their services to the exchange, the statement stated:

“While USD withdrawal remains fully operational on the platform today, we expect our banking partners to discontinue that service in the near future.”

Besides resubmitting USD withdrawal requests, the exchange has continued to encourage its users to convert their USD to a stablecoin to continue crypto-to-crypto trading following its earlier commitment of planning to transition to a crypto-only exchange.

Reminder: As we transition to a crypto-only exchange, https://t.co/gM6e3xb9BX will remove select USD Advanced Trading pairs from our platform on 6/26 at 8 p.m. PDT / 11 p.m. EDT.

While USD withdrawals remain fully operational, we encourage you to use, withdraw, or convert your… pic.twitter.com/LWDWVvwtoq

Binance.US has maintained that any USD balances that will be held in customer accounts when the banking partners discontinue their services could be converted into Tether (USDT) at a future date.

The post Binance.US resolves USD withdrawal issues but warns it may not last appeared first on Invezz.

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