Crypto Exchanges Binance and Coinbase Face Major Setbacks in US Market.
Binance.US will suspend US dollar deposits and withdrawals as its banking partners prepare to pause the channels to withdraw US dollars from the exchange, days after regulators sued Binance and its chief executive, Changpeng Zhao. While trading, staking, deposits and withdrawals in cryptocurrencies would remain fully operational, customers would be unable to deposit or withdraw US dollars from the exchange. The US arm of the world’s largest crypto exchange said on Thursday that it was taking “proactive steps” in its transition to a crypto-only exchange for the time being.