Binance has “temporarily” suspended US dollar withdrawals, according to a report. Soon after it was revealed, Binanc.US – the US subsidiary – Tweeted this decision to suspend dollar withdrawals did not impact its operations.
@BinanceUS and @Binance are separate entities. https://t.co/gM6e3xb9BX is a licensed and regulated digital asset marketplace in the United States.
— Binance.US Customer Support (@BinanceUShelp) February 6, 2023
The decision was said to impact just 0.1% of Binance customers.
According to a report by CNBC, a small amount of money was withdrawn from the crypto exchange following the decision. Binance said that other fiat currencies and payment methods were still available to purchase crypto.
Last month, Signature Bank announced that it was adjusting its relationship with crypto exchanges by requiring a minimum transaction amount of $100,000. This included Binance operations.
Binance said it expected to have a new partner for impacted users soon.