Binance.US Plans to Reinstate US Dollar Trading in 2025 Revamp

In early 2025, Binance.US plans to resume cryptocurrency trading paired with the US dollar, according to a statement from the platform cited by Decrypt.

In June 2023, the exchange halted dollar deposits and advised clients to withdraw fiat funds. The changes were attributed to the stance of banking partners, who intended to block USD withdrawal channels due to regulatory pressure.

Binance.US delisted pairs like BTC/USD, while maintaining support for trading instruments with USDT.

On June 5, the SEC filed a lawsuit against Binance and its CEO Changpeng Zhao, bringing 13 charges, including the sale of unregistered securities.

On June 6, the regulator filed a motion to freeze the digital assets of the exchange’s US division.

On June 9, platform users lost the ability to deposit dollars, leading to sales and a discount in bitcoin prices down to ~$2200 (7.3%).

On June 17, the SEC and Binance reached an agreement regarding client funds in the US. The company resumed asset withdrawals, though management warned that the situation could change.

On November 21, in a deal with the US Department of Justice, the exchange agreed to pay fines amounting to $4.3 billion.

Binance.US operates as a separate entity under the BAM Trading Services brand to comply with US legal requirements.

The current head of the division, Norman Reed, explained that the launch of fiat support is a matter of time.

According to the top manager, during the 17-month SEC investigation, no evidence of wrongdoing by the exchange was found.

Throughout this period, Binance.US continued to operate, offering trading in 160 cryptocurrencies and staking on more than 20 assets.

Reed reported working on new partnerships to expand custodial services and cryptocurrency wallet solutions.

Back in December 2024, the exchange’s CEO Richard Teng stated that it was too early to discuss Binance’s return to the US.