Binance.US Restores USD Deposits and Withdrawals After 18-Month Suspension
Key Highlights:
- Binance.US resumes USD deposits and withdrawals via bank transfers (ACH) after nearly 18 months of restrictions.
- The decision follows regulatory clarity, allowing US customers to trade with USD pairs.
- Binance halted USD services in June 2023 after the SEC filed a lawsuit against the exchange.
Binance.US Reopens USD Services for Customers
After nearly 18 months of suspension, Binance.US has reinstated US dollar deposits and withdrawals for its customers. According to a February 19 announcement, users can now link their bank accounts to deposit and withdraw USD via ACH bank transfers and trade using USD pairs.
The company stated that these services will gradually roll out to all eligible users in the coming days.
SEC Lawsuit Led to Previous Restrictions
In June 2023, Binance suspended USD deposits shortly after the US Securities and Exchange Commission (SEC) filed a lawsuit against the exchange. The SEC accused Binance of operating an unregistered securities exchange, which led to regulatory scrutiny and service disruptions.
With USD services now restored, Binance.US aims to enhance user accessibility while navigating the evolving US regulatory landscape.
