Bitcoin Exchange Binance.US Ends Direct Dollar Withdrawals Amid Regulatory Pressures

Binance.US users can no longer withdraw dollars directly from the platform.
Users must now convert dollar funds to stablecoins or other assets to withdraw.
In early June, Binance.US suspended dollar deposits due to banks' reluctance to engage with crypto.
The SEC sued Binance.US and Binance in June for allegedly operating unregistered securities platforms.
The SEC has questioned Binance's custody practices and willingness to cooperate.
Binance lost its euro payments partner last month, with no replacement yet announced.
Dollar funds in Binance.US wallets are no longer FDIC insured.