Binance.US Restores USD Transactions After 18-Month Suspension

Binance.US has reinstated USD deposits and withdrawals, marking a return to traditional banking services after an 18-month pause.

The exchange cited regulatory clarity as the reason behind the move, which will allow customers to link bank accounts for deposits, withdrawals, and crypto purchases via ACH transfers. The rollout is expected to reach all eligible users in the coming days.

The pause in USD transactions began in mid-2023 after the SEC filed a lawsuit against Binance, alleging regulatory violations and failure to register Binance.US as an exchange.

Legal battles escalated, with further accusations against Binance and its founder, Changpeng Zhao, including claims of mishandling user funds. In November, Binance agreed to a historic $4.3 billion settlement over money laundering violations.

Despite previous moves toward becoming a crypto-only exchange, Binance.US is now restoring fiat services, signaling a shift in its operations amid ongoing regulatory challenges.