Binance.US Rises from Legal Troubles

The US crypto market is experiencing a boom since Donald Trump returned to the White House, according to community. This surge is largely

Binance, the world's largest cryptocurrency exchange by trading volume, has officially resumed its USD services in the United States, nearly two years after the Securities and Exchange Commission filed a lawsuit that halted fiat functionality on the platform.

According to a recent blog post, Binance.US is bringing back U.S. dollar deposits and withdrawals for the first time in nearly two years. Starting today, customers can make zero-fee deposits and withdrawals through ACH bank transfers, and this feature will become available to all eligible users in the next few days, Binance.US noted.

At launch, Binance is restoring access to the following 10 USD trading pairs: BTC/USD, XLM/USD, DOGE/USD, SOL/USD, ETH/USD, ADA/USD, HBAR/USD, SHIB/USD, SUI/USD, and BNB/USD, with plans to add many more in the future.

The crypto exchange giant had stopped these fiat transactions on its U.S. platform in June 2023, shortly after the Securities and Exchange Commission filed a lawsuit against Binance, Binance.US, and its co-founder Changpeng Zhao for several charges, including breaking securities laws.

The regulator had alleged that Binance created and sold digital assets that are securities, without registering them with the SEC as required by federal law, among other claims.

Following the lawsuit, Binance stated that despite its “significant efforts” to work with an SEC investigation since December 2020, the lawsuit that followed caused problems for its banking partners. This situation turned Binance.US into a crypto-only exchange for a while, and its market share dropped even though it still offered over 160 cryptocurrencies.

Previously, Binance.US had about 10.8% of the market share based on U.S. dollar exchange volume, but by January 2025, this had dropped to nearly 0.1%.