Binance, one of the world‘s largest cryptocurrency exchanges, will be suspending U.S. dollar deposits this week.
The exchange made the announcement on February 6th, citing “regulatory uncertainty“ as the reason for the move. Binance has been actively preparing for the change, and will no longer accept deposits of U.S. dollars on February 8th. Customers who already hold U.S. dollars on the exchange will still be able to withdraw them, but will not be able to deposit new funds. Binance also noted that customers in the United States will still be able to use the exchange, but will not be able to use U.S. dollars as a means of payment. The exchange is working to introduce a new fiat–to–crypto platform which will be compliant with U.S. regulations.