- Binance.US has reinstated USD deposit and withdrawal services after a 19-month suspension
- The platform now offers zero-fee bank transfers (ACH) and has reintroduced 10 USD trading pairs
- This development follows a series of regulatory challenges and legal settlements involving Binance and its U.S. operations
After a 19-month hiatus, Binance.US has resumed USD deposit and withdrawal services, enabling customers to seamlessly transfer funds via zero-fee ACH bank transfers. The platform has also reintroduced 10 USD trading pairs, including BTC/USD and ETH/USD, enhancing trading opportunities for its users. This milestone comes in the wake of significant regulatory hurdles and legal settlements that have shaped the exchange’s operations in the United States.
Binance.US Back From the Brink
Launched in September 2019, Binance.US was created to serve American consumers while adhering to U.S. regulations. Despite its rapid growth, the platform faced increasing scrutiny from U.S. regulatory bodies; in June 2023, amid mounting legal pressures, Binance.US suspended fiat-based deposits and withdrawals, citing “aggressive and intimidating tactics” by the Securities and Exchange Commission (SEC) that impacted its banking relationships.
The suspension of USD services was a direct consequence of legal challenges faced by Binance’s global operations. In November 2023, Binance and its CEO, Changpeng Zhao, reached a settlement with the U.S. Department of the Treasury, agreeing to pay $4.3 billion in fines for violations of the Bank Secrecy Act and multiple sanctions programs.
As part of the settlement, Zhao stepped down as CEO, and Binance committed to implementing significant compliance measures, including withdrawing certain operations from the U.S. market.
Resumption of USD Services
With everyone outside of Binance thinking that Binance.US was on death row, it came as a surprise on February 19, 2025, Binance.US announced the phased reinstatement of USD services, allowing eligible customers to deposit and withdraw funds via ACH transfers with zero fees:
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 platform also restored 10 USD trading pairs, such as BTC/USD and ETH/USD, with plans to expand this offering. This development signifies Binance.US’s efforts to rebuild after navigating a complex regulatory landscape, helped in no small way by the more crypto-friendly Trump administration.
The restoration of USD services and additional trading pairs suggests that Binance.US is about to stage a surprise recovery and perhaps start to challenge for the top spot in the US.
