Corralito in Binance: From next June 13, it will not be possible to withdraw dollars

Buying and selling company cryptocurrencies Binance preparation for a playground starting next Tuesday June 13th. The company’s clients will not be able to withdraw dollars on the American platform, as they announced just days after a court in that country subpoenaed its CEO to testify. Changpeng Zhao, condemned by the United States Securities and Exchange Commission (sec). The regulator requested that all of the company’s assets be frozen for thirteen different criminal offenses related to the stock market and the management of client funds.

the market, stake –alternative mining technique-, Cryptocurrency deposits and withdrawals will still work, but you won’t be able to deposit or withdraw dollars from banks will stop supporting the company from Tuesday 13 June.

Binance took the blame sec of accelerating corralito and using “extremely aggressive and intimidating tactics” as part of an “ideological campaign” against the US crypto industry.

The SEC has used extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the US digital asset industry. https://t.co/AZwoBOgsqS and our business partners have not been spared in using this tactic, which has created… pic.twitter.com/rlIe6swIoY

— Binance.US 🇺🇸 (@BinanceUS) June 9, 2023

Arguing to protect its customers, the company urged them to withdraw their deposits before Tuesday, although it warned that given the enormous volume of transactions that had to be carried out, processing the requests could take days.

This week, the SEC also opened legal proceedings against coinbase for carrying out the work of a broker without being legally registered.

This is a very important step in his campaign to monitor the crypto market, which has stumbled since the collapse of the giant last year. FTX. Its founder, Sam Bankman-Friedfaces charges of fraud and money laundering, among many other charges.