Binance.US customers might possibly perchance warfare to withdraw USD deposits as early as June 13, per a assertion made by the firm on Thursday.

The crypto alternate expects its banking companions to reduce off its accumulate entry to to U.S. buck payment rails next week. Consequently, the alternate is halting the acceptance of U.S. buck deposits from customers and moreover urging customers to invent U.S. buck withdrawals by June 13.

“We succor customers to take appropriate movement with their USD,” acknowledged Binance.US in a assertion on Twitter.

This kind comes after the Securities and Alternate Commission (SEC) filed 13 bills against Binance, Binance.US, and its CEO Changpeng Zhao, including accusing the alternate of mishandling funds, mendacity to regulators, and promoting unregistered securities. The SEC moreover filed a movement for a short-term restraining repeat to freeze Binance’s belongings.

For a timeframe, Binance.US will pass to being a crypto-only alternate, it acknowledged.

“To ensure, we retain 1:1 reserves for all customer belongings,” acknowledged Binance.US. “Any downtime in processing withdrawals might possibly perchance be the discontinuance consequence of elevated volumes and weekend bank closures. Moreover, procuring and selling, staking, deposits and withdrawals in crypto remain totally operational.”

The alternate acknowledged that any U.S. buck balances from June 15 might possibly perchance be converted to stablecoins to enable on-chain transactions and withdrawals.

Earlier this week, Binance.US moreover paused its over-the-counter procuring and selling carrier and removed 10 procuring and selling pairs.

Binance’s BNB token fell spherical 1% over the closing 24 hours and 16% over the closing seven days, per details from Coingecko.