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Banking Partners

All articles tagged with #banking partners

cryptocurrency2 years ago

Binance.US Implements Restrictions on Dollar Withdrawals, Crypto Deposits, and UK Customers

Binance.US, the American arm of cryptocurrency exchange Binance, has updated its terms of use, halting direct dollar withdrawals for its users. Customers can now only withdraw US dollar funds by converting them to stablecoins or other digital assets. The move comes after Binance.US suspended dollar deposits in early June due to the US Securities and Exchange Commission's aggressive tactics against the crypto industry. The SEC has sued Binance.US, Binance, and its founder for allegedly operating unregistered securities platforms. Additionally, Binance.US warned customers that its banking partners were preparing to pause dollar withdrawals. The update also stated that US dollar funds in Binance.US wallets are no longer protected by FDIC deposit insurance.

via CoinDesk|
#banking-partners#binanceus#cryptocurrency
business2 years ago

Intuit Lifts Ban on Gun Companies, Allows Access to Services

Software giant Intuit has reversed its policy that banned gun manufacturers and sellers from using certain services, including QuickBooks, following an oversight investigation launched by Senator Ted Cruz. Cruz alleged that Intuit's banking partner, JPMorgan, had demanded the enforcement of policies regarding firearm sellers and manufacturers. After the policy change, there are no current prohibitions on payroll and payment processes for gun companies. Cruz praised Intuit's decision and encouraged other companies to avoid banning customers based on political differences.

via Fox Business|
#banking-partners#business#gun-companies
cryptocurrency2 years ago

Binance.US Resolves USD Withdrawal Issues, But Warns of Potential Discontinuation.

Binance.US has resolved its U.S. dollar withdrawal issues after working with its banking partners but warns the relief may not last. The exchange has encouraged any customers that have a failed withdrawal attempt to resubmit their requests, but cautioned that the relief may not be permanent. Binance.US is also encouraging its users to use, withdraw, or convert their USD to a stablecoin to continue crypto-to-crypto trading, as it transitions to a crypto-only exchange.

via Cointelegraph|
#banking-partners#binanceus#crypto-only-exchange
business2 years ago

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.

via The New York Times|
#banking-partners#binance#business
cryptocurrency2 years ago

SEC crackdown on Binance and Coinbase sends shockwaves through crypto industry.

Binance.US, the U.S. arm of the world's largest crypto exchange, is suspending U.S. dollar deposits as its banking partners prepare to pause fiat dollar withdrawal channels as early as June 13. The announcement comes just days after U.S. regulators sued Binance and its CEO Changpeng Zhao. The exchange says it is taking "proactive steps" in its transition to a crypto-only exchange for the time being, with trading, staking, deposits, and withdrawals in crypto remaining fully operational.

via Fox Business|
#banking-partners#binance#crypto-exchange