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US Securities and Exchange Commission logo and representations of cryptocurrency Binance are seen in this illustration taken June 6, 2023. Credit: Reuters Photo
Binance.US said on Thursday the company is suspending USD deposits while notifying customers that their banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13.
The move comes as the US financial regulators supported a freeze on Binance's assets earlier in the day.
The US Securities and Exchange Commission's take on cryptocurrency is "extremely aggressive and intimidating", Binance.US said in a tweet, adding that it has created challenges between the exchange and its banking partners.
Trading, staking, deposits and withdrawals in crypto would remain fully operational, Binance.US said in a notice to its customers.
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