Binance.US Resolves USD Withdrawal Woes, But Sounds A Warning Bell

2023-6-23 12:08

Binance.US, the United States-based cryptocurrency exchange, has successfully resolved the issue concerning the withdrawal of US dollars.

Binance.US resolved USD withdrawal issues but warns of potential future disruptions. Banking partners may discontinue the USD withdrawal service. Customers are advised to resubmit requests and consider stablecoins for crypto-to-crypto trading. Status Update And Future Concerns For USD Withdrawals On Binance.US

Binance.US has collaborated closely with its banking partners to rectify its USD withdrawal problem; however, it has warned customers that this resolution may only be temporary.

Related Reading: Binance.US Initiates Lawsuit, Alleging SEC’s Misleading Statements

Presently, users can withdraw USD without any hindrance on the platform, but the exchange anticipates that its banking partners might discontinue this service in the near future, leading to potential disruptions in dollar withdrawal capabilities.

In a recent update on June 22, the independent subsidiary of Binance assured customers that its system is fully operational. It further mentioned that the processing time for US dollar withdrawal requests is expected to return to the standard five-business-day turnaround period.

Earlier, on June 9, the exchange had temporarily suspended dollar deposits and alerted customers about an upcoming pause in fiat withdrawal channels due to its ongoing conflict with the Securities and Exchange Commission (SEC).

It had also forewarned users that its banking partners were preparing to halt fiat withdrawal channels by June 13. However, that deadline passed without any disruptions occurring.

In light of the current situation, Binance.US has advised customers who have encountered failed withdrawal attempts to resubmit their requests since the system is now functioning smoothly.

Additionally, Binance.US is proactively encouraging its users to consider utilizing stablecoins, converting their USD, or withdrawing funds to facilitate continued crypto-to-crypto trading. This move reflects the exchange’s shift towards becoming a crypto-only platform.

Conversion Of USD Balances And Updates On Trading Pairs

Binance.US has provided information regarding the potential conversion of remaining USD balances into Tether at a later date.

Additionally, the announcement highlighted the introduction of new trading pairs involving ANKR, DAI, DASH, HBAR, ICX, IOTA, RVN, WAVES, XNO, XTZ, and ZIL on June 26.

However, the company also disclosed its plan to remove most “USD Advanced Trading pairs” from the platform on the same date.

Only 10 cryptocurrencies will still be able to be traded against the dollar out of the 150 supported cryptocurrencies on the exchange going forward. These include BTC, ETH, ADA, BNB, LTC, MATIC, SOL, VET, USDC, and USDT.

Related Reading: Binance To Launch Second Cristiano Ronaldo NFT Collection

It is worth noting that Binance.US has encountered similar challenges with its banking partners in Australia. In May, the Australian branch experienced a significant drop in Bitcoin prices, reaching a 20% discount.

This occurred when local banking and payments partners suspended their services, resulting in a rush to sell and cash out.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 242.73 (-100%)

withdrawal binance resolved usd concerning issue dollars

Источник: bitcoinist.com

withdrawal binance → Результатов: 101


Binance поднимает комиссии за выводы в сети Tron

Криптовалютная биржа Binance пересмотрела структуру комиссий для вывода активов в сети Tron (TRX) после принятия новой модели транзакционных сборов в последней. #Binance will adjust the TRON Network Withdrawal Fees.

2023-2-11 17:24


How To Transfer Crypto (BTC, ETH, ADA etc) From Kraken to Binance?

IMPORTANT WARNINGS Trying to deposit a non-supported token may result in the loss of tokens. Send a small test amount first Beware when choosing the network which you want to use for sending crypto Starting out with the withdrawal process on Kraken In order to transfer your cryptocurrency from Kraken to Binance, first, we need […] The post How To Transfer Crypto (BTC, ETH, ADA etc) From Kraken to Binance? appeared first on CaptainAltcoin.

2022-3-14 20:38


How To Transfer Crypto (BTC, ETH, ADA etc) From eToro to Binance?

IMPORTANT WARNINGS Trying to deposit a non-supported token may result in the loss of tokens. Send a small test amount first Beware when choosing the network which you want to use for sending crypto Starting out with the withdrawal process on eToro eToro is a big brokerage firm that deals with stock markets, forex and […] The post How To Transfer Crypto (BTC, ETH, ADA etc) From eToro to Binance? appeared first on CaptainAltcoin.

2022-1-11 19:31


Binance восстановила вывод средств

Крупнейшая в мире по объемам торгов криптовалютная биржа Binance сообщила, что возобновила вывод криптовалюты с торговой платформы, пишет РБК Крипто. Crypto withdrawals have been resumed. There will be a temporary delay in withdrawal processing as the backlog is cleared.

2021-11-2 15:55


Binance снизила лимит вывода средств с 2 BTC до 0,06 BTC

Криптовалютная биржа Binance снизила с 2 BTC до 0,06 BTC суточный лимит вывода средств для новых пользователей, прошедших базовую верификацию аккаунта. Effective immediately for new account registrations, users that have completed only Basic Account Verification will have a daily withdrawal limit of 0.

2021-7-28 20:34


Fiat-to-Crypto Exchange Binance Singapore Launches to Public With Partner Vertex Ventures

Binance has had many changes recently, including the withdrawal from the US market in lieu of another platform. Now, according to a new press release, the firm has officially launched Binance Singapore (Binance SG), which will serve as a fiat-to-crypto platform that will allow users to apply Singapore Dollars (SGD) in their purchase and sale […]

2019-7-10 04:19


Биткоин-биржа Binance открыла вывод средств. Обошлось не без проблем

CEO криптовалютной площадки Binance Чанпэн Чжао сообщил, что вывод средств открыт для большинства монет. Withdrawals are open for most tokens, the balance will be open shortly. A new requirement to be logged in while confirming the withdrawal mail was added.

2019-5-16 09:25


дальше еще 52 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Backed Finance AG secures $9.5 million in Series A funding to expand tokenization services

Backed Finance AG, a prominent provider of tokenized real-world assets and tokenization services, has successfully raised $9.5 million in its Series A funding round. The funding round was led by Gnosis and saw participation from both new and returning investors including Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay […]

Binance secures crypto license in Dubai

Binance, the world’s largest cryptocurrency exchange, has been granted a Virtual Asset Service Provider (VASP) license in Dubai, marking a significant regulatory achievement. This development follows the relinquishment of voting rights by co-founder Changpeng Zhao in the local Binance entity, a pivotal move that facilitated the license approval.

Why is MARA stock in news among crypto enthusiasts ahead of Bitcoin halving?

Marathon Digital (NASDAQ: MARA) has been gaining attention among crypto enthusiasts and investors alike, especially with the anticipation surrounding the upcoming Bitcoin halving event. As Bitcoin (BTC-USD) continues its upward trajectory, investors are exploring various avenues to capitalize on the rally, and MARA stock has emerged as a prominent contender in this regard. Why is […]

Who is Sam Bankman-Fried? A timeline of crypto king’s rise and fall

Samuel Benjamin Bankman-Fried, commonly known as SBF, is an American entrepreneur who rose to prominence in the cryptocurrency world as the founder of the FTX cryptocurrency exchange. Born on March 5, 1992, in Stanford, California, Bankman-Fried showed early promise, attending the prestigious Massachusetts Institute of Technology (MIT) before delving into cryptocurrency trading. His career trajectory […]