Binance.US Restores US Dollar Services After Nearly Two-Year Hiatus

The crypto exchange reintroduces USD deposits and withdrawals, signaling recovery following regulatory challenges and banking disruptions.

Binance.US has resumed USD deposits and withdrawals, offering zero fees for bank transfers and enabling trading of over 160 cryptocurrencies.
The platform had operated as a crypto-only exchange since June 2023 after losing access to banking partners due to regulatory pressures.
The SEC's aggressive stance under former Chair Gary Gensler significantly impacted Binance.US, leading to a 75% revenue drop and staff reductions.
A shift in the regulatory environment, including the SEC's softened approach under Acting Chair Mark Uyeda, has facilitated the platform's recovery.
Binance.US has not disclosed its new banking partner but plans to expand partnerships in the coming months to regain market share.