Sometimes, when i read through post of crypto users discriminating SEC's actions on every exchange firms in US, i just feel those discriminatory words are not necessary, since it doesn't change the fact that SEC seems to take Crypto issues personal. It is my pleasure to let you know that Binance.Us has come out to discriminate the disgusting art of sec calling it an "extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry".
The attitude of SEC towards so many exchanges in the past is becoming alarming. After trying shit with Coinbase and Coinme, they thought that Binance would be a perfect target to go for next😂. I am very happy to see that Binance could stand tall against SEC, what Coinbase and Coinme has failed to do.
Binance released a statement this morning via their twitter handle, stating that
As a result, in an effort to protect our customers and platform, today we are suspending USD deposits and notifying customers that our banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13, 2023. We encourage customers to take appropriate action with their USD.
From the report above, withdrawer and deposits of USD would be paused, which am not sure if its going to affect every binance user in general. But, transactions within the binance application would still remain active. I remember making a comment on someone's post yesterday stating that
SEC would deprive american citizens the benefits of Crypto currency with all this actions from them.
And it is certain that the Citizens might just be victim of all this misunderstanding. As a supporter of Crypto Currency and decentralized system, i am giving my support to whatever decision Binance makes against the SEC.
In Conclusion SEC's action on exchange firms has being tolerated enough. The statement used by binance to describe sec's actions is the best statement every crypto expert would use. The matter isn't over yet, lets just sit back and watch what unravels along the line.
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This is not the first time that an exchange begins to regularize itself by cutting ties with US investors, #blocktrades has already ended its support and trading to that same side.