Binance.US stops trading multiple pairs of USDT, BTC, and BUSD due to SEC lawsuit.

Binance.US has stopped trading several crypto tokens as of June 7, following a lawsuit filed by the United States Securities and Exchange Commission against Binance entities and their leadership. Binance.US will remove selected Advanced Trading pairs on June 8, 2023. The exchange has also paused its OTC Trading Portal and streamlined its Buy, Sell & Convert offering. Over 90 trading pairs of the stablecoin Tether ( USDT ), eight Bitcoin ( BTC ) pairs and two Binance USD ( BUSD ) pairs will be affected by the pause. Deposits and withdrawals remain available. Binance.US has also reduced the number of supported convert trading pairs. The exchange has updated the maximum trade amount for buy, sell and convert options to $10,000. Furthermore, Binance.US shut down its over-the-counter (OTC) trading platform without informing when it will resume operations.

The SEC filed a lawsuit against Binance on June 5, alleging that Binance offered unregistered securities. The U.S. regulator pressed 13 charges against the exchange, including unregistered offers and sales of the BNB and BUSD tokens, the Simple Earn and BNB Vault products, and its staking program. In addition, the SEC alleges in the suit that Binance failed to register its Binance.com platform as an exchange or a broker-dealer clearing agency. Only a day after filing the Binance suit, the commission also went after blockchain on similar grounds, alleging that popular cryptocurrencies offered by the exchange, such as SOL, MATIC and The Sandbox ( SAND ), qualify as securities.

Binance.US has stopped trading several crypto tokens as of June 7, following a lawsuit filed by the United States Securities and Exchange Commission against Binance entities and their leadership. Binance.US will remove selected Advanced Trading pairs on June 8, 2023. The exchange has also paused its OTC Trading Portal and streamlined its Buy, Sell & Convert offering. Over 90 trading pairs of the stablecoin Tether ( USDT ), eight Bitcoin ( BTC ) pairs and two Binance USD ( BUSD ) pairs will be affected by the pause. Deposits and withdrawals remain available. Binance.US has also reduced the number of supported convert trading pairs. The exchange has updated the maximum trade amount for buy, sell and convert options to $10,000. Furthermore, Binance.US shut down its over-the-counter (OTC) trading platform without informing when it will resume operations.

The pause affects over 90 trading pairs of the stablecoin Tether ( USDT ), eight Bitcoin ( BTC ) pairs and two Binance USD ( BUSD ) pairs. According to Binance.US, deposits and withdrawals remain available.

Binance.US also reduced the number of supported convert trading pairs. Currently, buy, sell and convert options remain available for only USDT, USD Coin ( USDC ), BNB ( BNB ), Ether ( ETH ), BTC, Fetch.ai (FET), Cosmos ( ATOM ), Aptos ( APT ), Polygon ( MATIC ), Litecoin ( LTC ), Dogecoin ( DOGE ), Shiba Inu ( SHIB ), Fantom ( FTM ), ApeCoin ( APE ), Solana ( SOL ), Chainlink ( LINK ), Cardano ( ADA ), Polkadot ( DOT ), Gala ( GALA ) and Avalanche ( AVAX ). Conversion for USD will remain available, said the exchange. However, the maximum trade amount for buy, sell and convert options has been updated to $10,000. Additionally, Binance.US shut down its over-the-counter (OTC) trading platform without informing when it will resume operations.

The SEC filed a lawsuit against Binance on June 5, alleging that Binance offered unregistered securities. The U.S. regulator pressed 13 charges against the exchange, including unregistered offers and sales of the BNB and BUSD tokens, the Simple Earn and BNB Vault products, and its staking program. In addition, the SEC alleges in the suit that Binance failed to register its Binance.com platform as an exchange or a broker-dealer clearing agency. Only a day after filing the Binance suit, the commission also went after blockchain on similar grounds, alleging that popular cryptocurrencies offered by the exchange, such as SOL, MATIC and The Sandbox ( SAND ), qualify as securities.

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