U.S.-based cryptocurrency exchange Binance.US has resolved recent USD withdrawal issues by working with banking partners.

Per this announcement, USD withdrawals are expected to be processed in typically less than five business days.

However, Binance.US also issued a warning statement informing customers that the relief from withdrawal issues may be temporary. The exchange expects its banking partners to discontinue USD withdrawal services in the near future.

In light of this warning, Binance.US encourages users to withdraw their USD balances or exchange them for stablecoins to continue trading on the platform.

Binance.US is moving towards becoming a pure-play cryptocurrency exchange and has been slowly removing crypto-fiat trading pairs from its platform. It plans to convert customers’ U.S. dollar balances into the popular stablecoin Tether (USDT) to make transactions easier.

The recent announcement also highlights the addition of more USDT trading pairs, including ANKR, DAI, DASH, HBAR, ICX, IOTA, RVN, WAVES, XNO, XTZ, and ZIL, effective June 26.

However, the exchange designated the same day to remove most of the “USD premium trading pairs” from the platform. Of the 150 cryptocurrencies supported by the exchange, only BTC, ETH, ADA, BNB, LTC, MATIC, SOL, VET, USDC, and USDT are still available for trading against the US dollar.

Binance.US’ 13-day window is ending soon

On June 9, Binance.US temporarily suspended USD deposits and notified its customers that fiat withdrawal channels may be suspended due to the ongoing SEC litigation.​

Binance.US received court approval to resume its U.S. operations when Judge Amy Bermant Jackson rejected the SEC’s request for a temporary restraining order against the exchange’s assets. As part of the agreement, Binance.US ensures that only its employees have access to customer funds on the U.S. exchange, keeping it separate from Binance.com.

Binance Global officials were blocked from accessing private keys associated with wallets, including cold wallets, hot wallets, hardware and software associated with Binance.US. In addition, they were banned from accessing the U.S. subsidiary's internal systems and controls for 13 days starting June 17.

With just a week left until the end of this critical phase, market participants are eagerly awaiting further developments as the proceedings unfold.

Binance’s decision to hire a prominent legal representative to defend it has given hope to the exchange, which is reflected in the positive performance of Binance Coin (BNB), which is currently trading at 243.51 despite market volatility The U.S. dollar rose 2% on a weekly basis.