A friend of mine received this email from Binance this AM.
Dear Valued Customer,
As you may be aware, Binance.US, alongside other companies in our industry, has become the target of aggressive tactics by the United States Securities and Exchange Commission (SEC). The SEC has brought unjustified civil claims against our business, from which we will continue to vigorously defend ourselves, our customers, our partners and industry.
Irrespective of the baseless claims, and in light of the Commission’s increasingly aggressive tactics, our payment and banking partners have signaled their intent to pause USD fiat channels as early as June 13, 2023, meaning our ability to accept USD fiat deposits and process USD fiat withdrawals will be impacted. As part of our customer-first commitment, we are notifying users promptly so you can take necessary actions as we transition to a crypto-only exchange. To be clear, we maintain 1:1 reserves for all customer assets, so customer funds are always safe, secure, and available.
Please note the following changes that will impact the platform:
ACH WITHDRAWALS: We encourage customers to withdraw their USD via bank transfer (ACH) by June 13, 2023. Due to elevated volumes and weekend bank closures, ACH withdrawals may take longer than usual to process (e.g. up to several days); we appreciate your patience. USD DEPOSITS: To ensure a timely USD withdrawal process, we are suspending USD deposits and recurring buy orders today and beginning the transition to a crypto-only exchange. Any deposits already initiated will be processed. USD TRADING PAIRS: Beginning next week, we will start delisting USD pairs (e.g., BTC-USD) on our platform, while continuing to support stablecoin pairs (e.g., BTC-USDT). USD BALANCES: Any USD balances remaining on the platform after June 15, 2023 may be converted to stablecoin that can be withdrawn on-chain. Cryptocurrency services remain fully operational, including: crypto trading, staking, deposits and withdrawals. Until we secure more stable banking partners, Binance.US will remain a crypto-only exchange–at least for a time. We will continue to provide you with updates via our status page.
Thank you for your continued support as we fight for a path forward for those who want a thriving digital asset marketplace in America.
The Binance.US Team
But the DS used crypto to hide some of their money laundering. So is this structured by the DS to push everyone towards crypto?
I don't care for FIAT $, and it is traceable in and out of the banking system. I'm not convinced crypto can't be traced either.
IMHO, Crypto is not real money, it's just digital FIAT designed to make the originators wealthy (like a pyramid scheme).
Real $ is silver and gold. Block chain makes sense for tracking finance transfer among institutions and large businesses, where trade and real goods and services generally equal out the balance.
Mark my words, if we are forced to use crypto, everyone's location and transactions will be tracked in real time. You won't be able to make a purchase or exchange goods and services without a digital device tracking your every move. You won't be able to do anything without a signal to that digital device. And there will be a way to disable that digital device from half a world away. Disabling up close will be easy, signal jamming is old tech.
Hence the reason why all financial institutions are starting to shill and enter the crypto space. It's always been Deep State/Cabal controlled. They want people to funnel their fiat that isn't into the stock market or other paper assets into crypto, where they can rugpull everyone just the same.