Regulatory Pressure Hits Binance and Coinbase: What's Next for Crypto?

Binance.US, the American arm of the world's largest crypto exchange, will no longer allow customers to trade on its platform using U.S. dollars after its banking partners cut the firm off in response to a crackdown by federal regulators. The move is a major blow to Binance, as one of the main functions of an exchange is allowing users to convert their traditional money into digital currencies like Bitcoin or Ether. The announcement comes after the Securities and Exchange Commission sued Binance on Monday, accusing the firm and its CEO of mishandling customer funds and lying to regulators.