In a tweet, the U.S. arm of Binance said it's temporarily transitioning to an all-crypto exchange, and the company said trading, staking, deposits and withdrawals in crypto remain fully operational.
USD deposits will be suspended as of June 9, and USD-based trading pairs will be de-listed shortly after, the exchange said.
“While we remain open to a productive compromise that enables a thriving digital asset marketplace in America, Binance.US will continue to vigorously defend ourselves, our customers and the industry against the meritless attacks of the SEC,” the exchange tweeted.
Binance's BNB coin remains stable at $260.24. The token, which was accused of being a security by the SEC, is down 15% over the last week.
On Tuesday, the SEC filed for a temporary restraining order to freeze certain assets tied to Binance.US. The two are due back in court on June 13 regarding the matter — the same day Binance.US says it's transitioning to an all-crypto exchange.
The SEC has also accused Binance of directing $12 billion to firms controlled by CEO Changpeng Zhao, a claim that Zhao and Binance both deny.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.