BUSD deposits and withdrawals via OCBS suspended on Binance.US

Amid the ongoing uncertainty astir the planetary banking turmoil, Binance’s United States-based limb Binance.US is halting immoderate services.

According to Binance.US presumption dashboard, the U.S. crypto speech connected March 31 disabled Binance USD (BUSD) stablecoin pairs via One Common Billing System, referred to arsenic OCBS.

The affected services see BUSD crypto deposits and withdrawals, oregon buying, selling and converting crypto options, the presumption announcement says.

Binance.US said that the steadfast is presently investigating the issue, noting that the services are “suspended temporarily.”

Source: Binance.US presumption dashboard

The OCBS and BUSD issues connected Binance.US came soon aft the steadfast halted definite U.S. dollar deposit services connected March 30. According to the dashboard, Binance.US temporarily suspended Apple Pay and Google Pay deposits owed to the institution “transitioning to caller banking and outgo work providers implicit the adjacent respective weeks.”

For up to 5% of Binance.US customers, the level has besides halted debit paper deposits starting from March 30, 2023. “We are moving to reconstruct each services arsenic soon arsenic possible,” Binance.US stated.

Related: Kraken to suspend Plaid withdrawals and deposits via ACH Silvergate

The quality comes amid Binance.US’ planetary affiliate, Binance, facing ineligible enactment from the U.S. Commodity Futures Trading Commission (CFTC). On March 27, the CFTC filed a suit against Binance and CEO Changpeng “CZ” Zhao for alleged trading violations, arguing that the speech failed to conscionable compliance obligations by not registering with the regulator.

Launched successful September 2019 and headquartered successful California, Binance.US operates arsenic a abstracted entity from Binance, which is not disposable to U.S. users owed to section regulations.

Catherine Coley, the archetypal CEO of Binance.US, reportedly enlisted a erstwhile national authoritative and apical bull astatine the CFTC to correspond her successful the U.S. government’s investigations into Binance.US. After leaving Binance.US successful June 2021, Coley has remained soundless astir her whereabouts successful media and hasn’t posted thing connected her Twitter.

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