BUSD deposits and withdrawals via OCBS on Binance.US have been suspended

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US-based Binance is operating amid persistent uncertainties regarding the global banking crisis. A few services have been halted by Binance’s US subsidiary.

The US cryptocurrency platform Binance disabled Binance USD stablecoin pairs via its shared billing system, known as OCBS, on March 31, according to the Binance.US status dashboard.

Affected services include BUSD crypto deposits and withdrawals or buying, selling and transferring crypto options, according to the status notice.

Binance.US said the company is currently investigating the issue, noting that the services are “temporarily suspended.”

The releases of OCBS and BUSD on Binance.US came shortly after the company shut down some US dollar deposit services on March 30.

Due to the company’s upcoming switch to new banking and payment service providers, the dashboard indicates that Binance.US has temporarily halted Apple Pay and Google Pay deposits.

Starting on March 30, 2023, the platform will no longer accept debit card deposits from up to 5% of its users. According to Binance.US, “We are working to restore all services as quickly as feasible.”

The announcement comes as the US Commodities Futures Trading Commission is suing Binance, a global subsidiary of Binance.US (CFTC). In a lawsuit filed against Binance and its CEO Changpeng Zhao on March 27, the Commodity Futures Trading Commission (CFTC) claimed that the platform had violated trading regulations by failing to register with the watchdog.

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