Binance will suspend US dollar transfers from Wednesday, and that's reportedly causing millions to flow to rival exchanges

• Binance will suspend the transfer of US dollars on its exchanges from Wednesday, reports say.
• The exchange didn't give a reason for the suspension, which won't affect US-based customers.
• The announcement may have caused millions of dollar-pegged stablecoins to flow out of the exchange, per CNBC.

Binance, the world's largest crypto exchange, will suspend US dollar transfers from Wednesday, and the move is reportedly fueling millions of dollars in outflows from the platform to rivals.