BUSD deposits and withdrawals via OCBS suspended on Binance.US

Amid the ongoing uncertainty around the global banking turmoil, Binance’s United States-based arm Binance.US is halting some services.

According to the Binance.US status dashboard, on March 31, the U.S. crypto exchange 

The news comes amid Binance.US’ global affiliate, Binance, facing legal action from the U.S. Commodity Futures Trading Commission (CFTC). On March 27, the CFTC filed a suit against Binance and its CEO Changpeng “CZ” Zhao for alleged trading violations, arguing that the exchange failed to meet compliance obligations by not registering with the regulator.

Launched in September 2019 and headquartered in California, Binance.US operates as a separate entity from Binance, which is unavailable to U.S. users due to local regulations.

Catherine Coley, the first CEO of Binance.US, reportedly enlisted a former federal prosecutor and top cop at the CFTC to represent her in the U.S. government’s investigations into Binance.US. After leaving Binance.US in June 2021, Coley has remained silent about her whereabouts in media, and hasn’t posted anything on her Twitter.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom