Binance.US Halts OTC Trading Portal and Delists Trading Pairs Amid SEC Lawsuit
Binance.US has decided to remove approximately one-third of its existing trading pairs from its platform. Additionally, the company has announced a temporary suspension of its OTC Trading Portal.
Because Bitcoin
June 7, 2023
Binance.US, the American counterpart of cryptocurrency exchange Binance, will be removing approximately 100 trading pairs from its platform on June 8, which accounts for nearly one-third of its current trading pairs.
Furthermore, the exchange has announced the temporary suspension of its OTC Trading Portal, a system that facilitates off-exchange trading between buyers and sellers.
These decisions follow a lawsuit filed by the U.S. Securities and Exchange Commission on June 5, accusing Binance and CEO Changpeng 'CZ' Zhao of engaging in activities that violate regulations and should prohibit them from conducting business in the United States.
Some of the trading pairs affected by the delisting include FLOW/USDT, APE/USDT, MANA/BTC, among others.
Source: Binance US Blog
Binance.US assures its users that their assets remain secure and unaffected, and deposits and withdrawals will continue to operate normally.
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