Cryptocurrency Q&A
Why can't I withdraw USD on Binance?
Why can't I withdraw USD on Binance?
CryptoTitan
Sat Aug 17 2024
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7 answers
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I'm curious, why am I unable to withdraw USD from my Binance account? Is there a specific reason behind this limitation, or is it a temporary issue? Could it be due to my account verification status, or are there any other requirements I need to fulfill? I've been looking for a clear explanation, but haven't been able to find one yet. Could you please provide some insight into why I'm facing this hurdle, and what steps I can take to resolve it?
7 answers
Alessandra
Mon Aug 19 2024
On October 17th, Reuters reported that Binance's U.S. operation has temporarily halted withdrawals of U.S. dollars for its clients. This announcement was made via an update to their terms of service on Monday.
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CryptoWizardry
Mon Aug 19 2024
The move follows a series of regulatory hurdles faced by the cryptocurrency exchange. In early June, Binance.US had already suspended dollar deposits after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit requesting a court to freeze the exchange's assets.
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SumoStrength
Sun Aug 18 2024
The exchange's spot trading platform allows users to buy and sell cryptocurrencies at current market prices. Its futures trading platform, on the other hand, enables users to speculate on the future price of cryptocurrencies and potentially profit from price movements.
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Claudio
Sun Aug 18 2024
The SEC's action against Binance.US highlights the increasing scrutiny and regulation surrounding the cryptocurrency industry. Regulators are becoming more vigilant in protecting investors and ensuring compliance with securities laws.
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ZenBalanced
Sun Aug 18 2024
Binance, one of the world's largest cryptocurrency exchanges, has faced similar regulatory challenges in other countries as well. The exchange has had to adjust its operations to comply with various regulations and legal frameworks.
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