Categories: MarketsMenafn

Binance.US Temporarily Suspends Key Services Amid Banking Turmoil and Regulatory Scrutiny

Binance.US, the American subsidiary of the global cryptocurrency exchange Binance, announced the temporary suspension of its One Common Billing System (OCBS) and Binance USD (BUSD) stablecoin pairs on March 31. The move comes after the platform halts Apple Pay and Google Pay deposits.

As the world grapples with banking turmoil, Binance.US has decided to suspend certain services to address ongoing concerns. The company’s status dashboard revealed that it has disabled Binance USD stablecoin pairs through the OCBS. That decision affects various services, such as BUSD crypto deposits and withdrawals and buying, selling, and converting cryptocurrency options.

The exchange emphasized that the suspension is only temporary, as the firm is actively investigating the issue and working to restore all services as soon as possible.

Apple Pay and Google Pay Deposits Suspended

The OCBS and BUSD suspension followed Binance.US’s decision to halt specific U.S. dollar deposit services on March 30 temporarily. The dashboard disclosed that the company suspended Apple Pay and Google Pay deposits due to transitioning to new banking and payment service providers over the coming weeks.

Furthermore, Binance.US has paused debit card deposits for up to 5% of its customers since March 30, 2023. As indicated in its statement, the platform is committed to resuming all services as quickly as possible.

Binance Faces Legal Action from the U.S. CFTC

Binance.US’s global affiliate, Binance, is embroiled in legal action from the U.S. Commodity Futures Trading Commission (CFTC). On March 27, the CFTC filed a lawsuit against Binance and its CEO, Changpeng “CZ” Zhao, alleging trading violations. In addition, the regulator claims that Binance failed to meet compliance obligations by not registering with the CFTC.

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

Former Binance.US CEO Enlists CFTC Veteran for Legal Representation

Catherine Coley, the first CEO of Binance.US, has reportedly engaged a former federal prosecutor and a high-ranking official at the CFTC to represent her in the U.S. government’s investigations into Binance.US.

Coley, who left Binance.US in June 2021, has remained tight-lipped about her current activities and has not made any public statements on her social media accounts.

As Binance.US navigates these suspensions and regulatory challenges, the company is determined to resolve the issues and continue providing comprehensive cryptocurrency services to its users.

With the ongoing investigation and transition to new banking and payment service providers, the platform aims to restore all suspended services promptly and maintain its commitment to compliance with regulatory requirements.

The post Binance.US Temporarily Suspends Key Services Amid Banking Turmoil and Regulatory Scrutiny appeared first on CryptoMode.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Earning $6,000 Daily: How PAXMINING Cloud Mining Is Redefining Bitcoin Investment

London, UK, 26th August 2025, ZEX PR WIRE, A revolution is quietly underway in the…

2 hours ago

Daily $3,000 Income Attracts Investors to APT Miner After XRP and ETH Soar

Los Angeles, California, August 25, 2025, ZEX PR WIRE- As XRP and ETH prices continue…

17 hours ago

$8500 per day? That’s how much XRP holders can earn through blockchain cloud mining!

Start your journey to wealth with one click. London, England, 25th August 2025, ZEX PR…

17 hours ago

Sunny Mining Unveils Weekend Incentive Contracts for Short-Term Crypto Profits

Los Angeles, California, 22nd August 2025, ZEX PR WIRE, As digital assets gain increasing attention,…

4 days ago

Price pullbacks are no longer the end: APT miners help XRP investors lock in daily gains

Los Angeles, California, 22nd August 2025, ZEX PR WIRE, After XRP once again fell below…

4 days ago

Irys Raises $10M Series A to Unlock $3 Trillion Data Economy With First Programmable Datachain

CoinFund-Led Round Accelerates Institutional Adoption of Infrastructure For Datachains London, UK, Aug 22, 2025, ZEX…

4 days ago