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- Binance.US has resumed USD deposits and withdrawals after an 18-month suspension caused by regulatory challenges.
- The exchange secured new banking partnerships, allowing users to trade USD pairs and access features.
Binance.US has resumed both USD deposit and withdrawal operations after 18 months of suspension. Customers who are eligible for such transactions may undertake transfers through the bank, with options such as Automated Clearing House (ACH) options. This comes close on the heels of an address that led to the suspension of fiat currencies trading in June 2023.
USD services are returning to https://t.co/AZwoBOgsqS!
Access is rolling out over the coming days. Here’s what you can look forward to:
✅ Deposit and withdraw USD with 0% fees
✅ Buy crypto using bank transfer (ACH)
✅ Trade via popular USD pairs pic.twitter.com/weyayFJU1W— Binance.US 🇺🇸 (@BinanceUS) February 19, 2025
The suspension stemmed from a lawsuit filed by the U.S. Securities and Exchange Commission (SEC), which accused Binance.US of operating without proper registration. The legal battle led to severe restrictions, causing the platform to transition into a crypto-only exchange in mid-2023. The return of USD services signals an effort by Binance.US to reestablish financial stability and regain user confidence.
The exchange has stated that it will be a gradual operation, and they will be increasing service access over the next few days. Users can remit funds directly from their banking accounts to complete fee-free transactions, which makes them more convenient.
Regulatory Landscape and Legal Challenges
In light of the legal actions taken by the SEC against Binance.US for alleged securities law violations, its legal issues were severe. The lawsuit was targeted at the exchange and its head, Changpeng Zhao, which has led to the halting of USD operations. Therefore, Binance.US eroded drastically, reducing from 10% in fiat trading volume to 0,1% by early 2025.
Regulatory issues were carried forward to the state level, which followed the pulling of money transmitter licenses from various states such as North Dakota, Alaska, Florida, Maine, North Carolina, and Oregon. These actions kept the platform from growing its market presence in important locations such as New York and Texas.
However, Binance.US continues to operate and adapt to the regulatory surroundings. CEO Richard Teng highlighted the fact that changes in the policies that are being implemented by the administration of Donald Trump might afford better definitions to the cryptographic collegiums. It may help Binance.US and other platforms in getting much better regulatory treatment than is currently expected.
New Features and Market Impact
The change to reinstate USD services is associated with several improvements designed to optimize user satisfaction. The offered pairs are USD, BTC/USD, ETH/USD, SOL/USD, and ADA/USD, which has now become possible for users to trade. Binance.US has also brought back its “Auto-Buy” function that allows users to make regular buys of cryptocurrencies at specified time intervals conveniently.
Binance.US’s decision to resume its offerings in USD can be attributed to active discourse on the regulation of such trading platforms. It includes the issue of debunking, whereby financial institutions are closing accounts and stopping business with crypto players.
Several heads of large firms, such as Anchorage Digital, have claimed the industry suffers from systemic discrimination. The resumption of fiat services at Binance.US can be seen as an effort to fix the situation and bring more stability to the crypto giant in the US market. In November 2023, Binance was ordered to pay $4.3 billion as a penalty to address AML non-compliance issues. This resolution was instrumental in making some significant headway regarding compliance issues.
