A new statement regarding USD withdrawals came from Binance U.S, the US arm of the Bitcoin exchange Binance, which the SEC sued.
Binance US has previously announced that it will stop its banking partners from making USD payments and has told its users that they are suspending their USD deposits.
They reported that their banking partners are preparing to shut down USD withdrawal channels on June 13, 2023.
However, the USD withdrawals stop event still hasn't happened.
Commenting on this, Binance said that they are working with their banking partners to resolve all delayed USD withdrawal requests:
“As of today, we are pleased to share that we are working with our banking partners to successfully resolve nearly all delayed USD withdrawal requests.
If your previous withdrawal attempt was unsuccessful, you will need to submit a withdrawal request again as our systems are fully operational.
After that, we expect most USD withdrawal requests to be successfully completed within the normal timeframe of 5 business days or less. "
While USD withdrawals are back to normal, Binance US has warned users that this relief may not be permanent, noting that it expects its banking partners to discontinue this service in the near future.
“While USD withdrawal is fully operational on the platform today, we expect our banking partners to discontinue this service in the near future.
As we continue to seek new partners to reinvent USD deposits and withdrawals, we invite our users to use their USD fiat balances, withdraw or convert them into stablecoins so they can continue to trade crypto on the platform.
Because the remaining USD balance in your account can be converted to USDT at a later date. "
*Not investment advice.
