In the US it has stopped trading some cryptocurrency assets on its platform and suspended over-the-counter (OTC) trading.
In the statement made by Binance US, it stated its goal to continue as a more efficient and user-friendly platform while ensuring the security of user assets with these updates.
Important update from US Binance
US company Binance, the largest exchange in the cryptocurrency market, will stop trading certain pairs based on BTC and BUSD starting today. ATOM/BTC, BCH/BTC, DOT/BTC, LRC/BTC, MANA/BTC, UNI will not be traded as of today, swap pairs /BTC, VET/BTC, XTZ/BTC, HBAR/BUSD, ONE/BUSD .
On the other hand, we have been informed that the USDT trading pairs of these crypto-assets will continue to trade on the Binance US platform.
In addition to the trading pairs that were removed from the cryptocurrency trading list, the exchange also decided to update its Buy, Sell and Convert offers. The number of trading pairs that can be used in the transfer service, which provides ease of trading, will also be reduced to 226. Binance US has also increased the maximum amount of buy, sell and transfer orders to $10,000.
Also, over-the-counter operations are temporarily suspended
Binance US has decided to pause its over-the-counter (OTC) trading portal. Over-the-counter trading is a service that allows users to trade large volumes directly with the exchange, regardless of the standard order book. The company has informed that this service may be reactivated in the future.
These new decisions by Binance US come after the Securities and Exchange Commission filed a lawsuit against the exchange. The Securities and Exchange Commission (SEC) also filed an additional request to freeze funds on the Binance US platform, which has seen significant inflows of funds over the course of the week. It remains to be seen how the Court will respond to this request in the future.
