Gary

Binance.US is preparing to bring back USD services by early 2025. This move marks a significant shift for the crypto exchange after enduring nearly two years of regulatory obstacles. The exchange, limited in its operations since June 2023, is now eyeing a full recovery.&nbsp;
In a recent interview, the company’s interim CEO, Norman Reed, <a href="https://decrypt.co/297733/binance-us-charts-2025-comeback-ceo-norman-reed-reflects-on-challenges-and-plans-for-growth" rel="noopener noreferrer nofollow">expressed</a> confidence in reinstating fiat trading. He emphasized that it is no longer a matter of “if.” He made it clear that the question is now simply “when.”
<h2 id="b-binance-s-struggle-with-the-sec-and-the-fallout-b">Binance’s Struggle with the SEC and the Fallout</h2>
Binance.US first suspended USD services in mid-2023. This came after the U.S. Securities and Exchange Commission (SEC) filed a class action lawsuit under Chairman Gary Gensler.&nbsp;
The exchange was charged with failing to register as a clearinghouse and broker and engaging in wash trading. The lawsuit alleged that the trading platform was involved in mixing customer funds with the operations of its global parent company and fraud.&nbsp;
This legal battle led to <a href="https://thecoinrise.com/binance-us-hits-regulatory-roadblocks-in-alaska-and-florida/'" rel="noopener noreferrer nofollow">the exchange losing operating licenses</a> in multiple states. Also, it prompted Binance to reach a hefty $4.3 billion settlement with the Department of Justice. As a result, Binance.US was forced to restrict its US market services.
<h2 id="b-a-new-chapter-overcoming-operation-chokepoint-2-0-b">A New Chapter: Overcoming ‘Operation Chokepoint 2.0’</h2>
Despite these challenges, Reed frames the struggle as part of a larger effort he calls “Operation Chokepoint 2.0”. He noted that it was an initiative by certain factions of the US government aimed at blocking crypto firms from accessing essential banking services.&nbsp;
Recent discussions have raised concerns about regulatory agencies pushing crypto companies out of the financial system. Paul Grewal, Chief Legal Officer at Coinbase, has called for more transparency on these actions.&nbsp;
<a href="https://thecoinrise.com/binance-ceo-richard-teng-stresses-compliance-amid-speculation-on-u-s-return/" rel="noopener noreferrer nofollow">Despite facing such challenges</a>, Binance.US has remained operational, supporting 160 crypto assets. Also, it offers staking services for more than 20 digital assets. Reed highlighted that the platform’s continued operation despite regulatory pressure demonstrates its resilience.
<h2 id="b-binance-us-plans-to-bolster-compliance-and-expanding-services-b">Binance US Plans to Bolster Compliance and Expanding Services</h2>
Binance.US is focused on future growth by enhancing its compliance efforts. The company has hired many former law enforcement and regulatory experts. It has also set up strict Anti-Money Laundering (AML) and Know-Your-Customer (KYC) procedures, including ID verification and selfie authentication.
Binance.US is also planning to expand its custody services and wallet solutions. The company works with local and federal agencies on crypto investigations and offers blockchain training. This further shows its commitment to following rules and cooperating with regulators.
This is critical for the US crypto industry, especially with Donald Trump’s reelection. Many are hopeful for changes in the rules for crypto, and Trump’s supportive appointments suggest a more favorable future for digital assets.
The post <a href="https://thecoinrise.com/binance-us-set-to-resume-usd-services-by-2025-details/" rel="noopener noreferrer nofollow">Binance.US Set to Resume USD Services by 2025: Details</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Binance.US Set to Resume USD Services by 2025: Details

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