The U.S. division of Binance, the world’s largest cryptocurrency exchange, has reinstated USD-based services for American investors after a three-year hiatus.
The company announced that as of February 19, USD deposits, withdrawals, and trading features are gradually being restored to eligible customers. Users will once again be able to link bank accounts, make direct USD purchases, convert between crypto and fiat, and set recurring buys.
Additionally, Binance US confirmed that other key services are returning, including:
Crypto staking (ETH, SOL, BNB, ADA, and more), crypto domain claims, over-the-counter (OTC) trades for orders exceeding $10,000, API-based trading, and institutional platform access.
Binance US halted USD transactions in June 2023 after facing a lawsuit from the U.S. Securities and Exchange Commission (SEC), which also targeted Binance, Binance US, and former CEO Changpeng Zhao (CZ).
Under regulatory pressure, CZ stepped down and later served time in prison in 2024 for anti-money laundering violations. The exchange’s market share plummeted, leading to massive layoffs affecting 70% of its workforce.
However, Donald Trump’s election victory and his administration’s crypto-friendly stance have renewed optimism about resolving SEC lawsuits. While the Binance case remains technically active, both sides agreed to pause proceedings for 60 days in early February.
Image Credit: Pixabay
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