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Binance.US halts direct dollar withdrawals - CoinDesk

October 17, 2023 8:23 AM EDT
(Updated - October 17, 2023 8:24 AM EDT)

Binance.US halts direct dollar withdrawals - CoinDesk

  • Binance.US users can no longer withdraw dollars directly from the platform after the exchange updated its terms of use.
  • U.S. dollar deposits in user wallets are no longer eligible for FDIC insurance protection, according to the updated terms of use.
  • "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they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn," per the company's email.

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