Binance.US pauses OTC Trading portal, to streamline Buy, Sell & Convert product

Cryptocurrency exchange Binance.US said on Wednesday it has decided to streamline its Buy, Sell & Convert offering and has paused its OTC Trading portal. "Your assets remain safe and secure with Binance.US, and deposits and withdrawals continue to function as normal," the company said. The company will remove USDT ( USDT-USD ), BTC ( BTC-USD ), and BUSD ( BUSD-USD ) Advanced Trading pairs at 12:00 PM ET, it said . Binance coin ( BNB-USD ) slid 8.0% in Wednesday afternoon trading. On Tuesday, the U.S. Securities and Exchange Commission sued Binance and CEO Changpeng Zhao, alleging the exchange engaged in multiple unregistered offerings; combined functions of brokers, dealers, and clearing agencies; and didn't keep Binance.US as separate from Binance as it claimed.