Crypto Exchanges Face Challenges in the US Banking System

Bitcoin is trading at a slight discount on Binance.US after the exchange announced it would become a crypto-only platform starting June 13 and would no longer accept dollar deposits. The decision comes after the SEC asked a federal court to freeze Binance.US' assets, while suing its global entity Binance and rival exchange Coinbase for violating the federal securities law. The resulting worsening of the market depth saw bitcoin trade at a premium of more than $1,000 on the exchange at one point.