Oh, Binance.US, what an interesting turn of events you’ve decided to take!

Just when we thought you had it all figured out and were sailing smooth seas, you go and temporarily halt BUSD deposits and withdrawals? I mean, talk about changing the narrative!

What’s Going On?

You heard correctly – Binance.US has decided to temporarily halt BUSD deposits and withdrawals due to some “pending regulatory issues”. In Binance.US’s own words, here’s the statement they released on this announcement:

We have identified a pending regulatory issue related to BUSD and are working with our compliance and banking partners to resolve this. To ensure that we are compliant with all applicable regulations, BUSD deposits and withdrawals will remain paused until further notice.

Uh oh – sounds like someone’s not doing their due diligence!

What Does This Mean For Binance.US Users?

Well, for starters, BUSD deposits and withdrawals will remain paused until this “pending regulatory issue” is resolved. Depending on how long this takes, users might be in for a bit of a wait if they’re trying to use BUSD for payments or trading or general money management.

The good news is that Binance.US has stated that none of their other services or features have been affected – so users should be able to still enjoy their Binance.US experience in other ways.

What Can We Do?

In reality, not a whole lot. The best thing would be to wait for the issue to get resolved and to keep an eye out for any updates or announcements from Binance.US. The company has also stated that they’re working closely with their compliance and banking partners to address the issue, so hopefully it won’t take too much longer.

In the meanwhile, here are a few things we can do while we wait:

  • Sign up for notifications from Binance.US to stay up to date

  • Check out their blog for helpful tutorials on other features

  • Hang out with friends and talk about blockchain and cryptocurrency

Bottom Line

No matter what, Binance.US will get this issue sorted out eventually. And until then, you can keep your eyes peeled for updates and news from Binance.US and start researching other exchanges.