Binance.US, the U.S. affiliate of cryptocurrency exchange Binance, said its users are no longer able to withdraw dollars directly from the platform, its updated terms of use showed early this week. The move comes after Binance.US in early June halted dollar deposits , after the Securities and Exchange Commission took "extremely aggressive and intimidating tactics" against the wider industry that have "created challenges for the banks with whom we work." "In the event that customers wish to withdraw U.S. dollar funds from their account, they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn," according to the terms page , which was updated on Monday. On June 5, the SEC sued Binance.US, Binance and its founder Changpeng Zhao for allegedly breaching securities laws. The regulator accused in 13 charges that Binance had engaged in diverting customer funds as well as inflating trading volumes artificially. More in Binance Binance to halt access to its crypto exchange for new U.K. users Binance sells Russia operations to new crypto exchange CommEX
