tl;dr
Binance.US plans to restore its USD services in early 2025, following regulatory pressure that led to the suspension of fiat trading last year. The platform, operating under restricted banking access since 2023, aims to comply with U.S. regulations. Interim CEO Norman Reed emphasized that the restor...
Binance.US plans to restore its USD services in early 2025, following regulatory pressure that led to the suspension of fiat trading last year. The platform, operating under restricted banking access since 2023, aims to comply with U.S. regulations. Interim CEO Norman Reed emphasized that the restoration is a matter of when, not if.
Binance.US functions as a separate entity from Binance, the global crypto exchange, operating under BAM Trading Services to comply with U.S. regulations. However, it offers a limited range of products and services compared to its global counterpart.
Despite the regulatory overhang, the exchange says it has maintained steady operations, even as the company faced multiple probes over compliance and alleged financial misconduct. Binance.US claims to have kept supporting 160 cryptos and staking for over 20 assets during that time, which Reed said far exceeds its closest rivals.
"Now that we've survived, our goal is to help crypto thrive and empower all Americans with freedom of choice," Reed said.