BUSD Deposits and Withdrawals via OCBS Suspended on Binance.US

🚀 Stay Ahead with AltcoinDaily.co! 🌐

According to a report and the Binance.US’s status dashboard, the Binance USD stablecoin (BUSD) pairings through the One Common Billing System, or OCBS, got deactivated on March 31.

The impacted services, according to the current notification, include BUSD cryptocurrency deposits and withdrawals as well as buying, selling, and exchanging cryptocurrency options. According to Binance.US, the company is looking into the problem and the services have been “suspended temporarily.”

Dark Clouds Loom Over BUSD

The difficulties with the OCBS and BUSD on Binance.US emerged shortly after the business suspended certain US dollar deposit facilities on March 30. The dashboard states that owing to the firm “transitioning to new banking and payment service providers over the next several weeks,” Binance.US has temporarily stopped Apple Pay and Google Pay deposits.

  🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

The site has also stopped allowing debit card deposits for up to 5% of Binance.US users beginning on March 30, 2023. Binance.US noted:

“We are working to restore all services as soon as possible.”

According to reports, Catherine Coley, the founding CEO of Binance.US, hired a former federal prosecutor and top CFTC official to defend her in the federal investigations into Binance.US.

 🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Coley has not provided any information to the public regarding her location since she left Binance.US in June 2021.

This disclosure comes as Binance is facing a lawsuit brought by the United States Commodity Futures Trading Commission (CFTC), which has initiated an investigation against Binance, its CEO, Changpeng ‘CZ’ Zhao, and executive Samuel Lim. 

In the meantime, the US division of Binance gained overwhelming support from Voyager Digital consumers for its reorganization plan, despite several impediments in the path of the trading system on its proposal for Voyager. The bid by Binance.US to buy the cryptocurrency lender was rejected by the US Securities and Exchange Commission (SEC). Similarly, Texas officials have spoken out against the arrangement between Binance.US and Voyager.

 🔍 Your Crypto News Hub: AltcoinDaily.co! 🌐