Binance.US Resumes USD Services as SEC Lawsuit Lingers

Binance.US has announced the full restoration of USD deposit and withdrawal services, marking a significant milestone following a 18-month suspension linked to regulatory challenges. The platform, a U.S.-based affiliate of the global Binance exchange, began rolling out the services in February 2025, enabling customers to link bank accounts for zero-fee transactions via ACH. This development follows a 2023 Securities and Exchange Commission (SEC) lawsuit that forced Binance.US to halt USD services and operate as a crypto-only exchange. The restoration, described as a phased process, will extend to all eligible customers over the coming days Binance.US^[1].

The SEC lawsuit, filed in June 2023, accused Binance.US of operating as an unregistered securities exchange, prompting the platform to cut ties with banking partners and suspend fiat transactions. Binance.US interim CEO Norman Reed attributed the delay in restoring services to the need for securing compliant banking partners capable of handling USD transactions while maintaining regulatory standards. "We've found a trusted partner that allows Binance.US customers to easily link a bank account, deposit funds quickly with no processing fees, and use their funds immediately," Reed stated Cointribune^[2]. The company emphasized that deposits typically process in minutes, with funds instantly available for trading 160+ cryptocurrencies.

The restored USD services include 10 initial trading pairs: BTC/USD, XLM/USD, DOGE/USD, SOL/USD, ETH/USD, ADA/USD, HBAR/USD, SHIB/USD, SUI/USD, and BNB/USD, with additional pairs expected. Users can now deposit up to $10,000 daily and utilize features like Auto-Buy for scheduled crypto purchases. Binance.US also highlighted its commitment to expanding custody offerings and wallet solutions as part of its broader 2025 strategy BeInCrypto^[3].

The return of USD services is seen as a strategic move to reassert Binance.US's market position. Prior to the SEC-driven suspension, Binance.US was among the top U.S. exchanges, though it lost significant market share during the crypto-only period. The platform's survival through the regulatory turmoil, including staff reductions of 70%, was described as a "decisive year" by COO Christopher Blodgett. He noted that the firm's leaner structure and renewed focus on cost efficiency position it to deliver competitive services in 2025 Coindesk^[4].

Market analysts suggest the restoration could boost investor confidence and attract new users, particularly as U.S. crypto regulations continue to evolve. Binance's global parent company reported $8.73 billion in asset inflows in November 2024, bringing its total holdings to $154.9 billion, a testament to its resilience amid regulatory pressures. The resumption of USD services aligns with broader trends of institutional adoption, including record inflows into Bitcoin and Ethereum ETFs, which have added $28 billion to the crypto market in 2025 .

Despite the progress, Binance.US faces ongoing scrutiny from U.S. regulators. The SEC's lawsuit remains unresolved, and the platform's ability to maintain compliance while scaling operations will be critical. However, the firm's emphasis on partnerships with "reputable and compliant" banking institutions signals a proactive approach to navigating the regulatory landscape.