Binance US Reinstates USD Services After Nearly 3 Years

The US arm of the world’s largest cryptocurrency exchange has restarted all USD-based services for local investors after a nearly three-year hiatus.

The announcement, shared by the company earlier today, indicates that the services are operational as of February 19 and will be gradually rolled out to “all eligible customers in the coming days.”

The list of features to be available for US-based clients includes deposits and withdrawals in the greenback by linking a bank account, direct purchases via the dollar, converting between crypto assets and USD, and trading such pairs. Users will also be able to set recurring buys in USD.

Separately, Binance US promised other services, such as staking crypto assets (ETH, SOL, BNB, ADA, and more), claiming a crypto domain, placing OTC trades (orders up to $10,000), trading via API, and accessing the local branch’s institutional platforms.

The company halted all USD-based services in June 2023 after the US Securities and Exchange Commission sued Binance, Binance US, and the then-CEO Changpeng Zhao.

Amid mounting regulatory pressure, CZ had to step down and even spend a few months in prison in 2024 after admitting to failing to implement proper anti-money laundering rules. Binance US’s market share plummeted in the following years, and it had to cut 70% of its staff.

The changing landscape in the US following Donald Trump’s victory in the presidential elections and his subsequent inauguration raised hopes that all (or most) SEC lawsuits against crypto companies will be settled soon.

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Although the one against Binance is still technically active, the two parties agreed to pause it for 60 days in early February.