Binance US, a well-known crypto trading company for US citizens, has officially restored the withdrawals and deposits in USD. This reinstatement of USD withdrawals and deposits by Binance US comes following the stoppage triggered by SEC’s allegations concerning alleged wash trading on the 13th of February in 2023. Hence, following two years of unavailability, the users can again carry out withdrawals and deposits in USD.
Binance US Restores Withdrawals and Deposits in USD after 2-Year Long Suspension
Binance US has recently announced the restoration of USD withdrawals and deposits in its 2025 guide. The platform notes in the respective guide that it will gradually perform this reinstatement in the coming days for the eligible consumers. Formerly, the United States Securities and Exchange Commission filed a lawsuit against Binance US to stop this service. The regulator claimed that the crypto platform had infringed the securities laws by allegedly performing wash trading. These claims led to a suspension of the withdrawals and deposits in USD.
President Trump’s Return to Office Triggers Wider Crypto Shift
However, the restoration of the service denotes a groundbreaking move. The key factor behind this development is resulted from the US President Donald Trump’s return to power. This has reportedly led to a wider shift in the entire crypto market. Moreover, the crypto proponent policy has fully overhauled the approach of the US government concerning the crypto sector. Additionally, this has persuaded a great number of companies to resume their activities in the United States.
During the previous government, several firms became victims of the stringent regulations and enforcement approach of the SEC. Binance US was among the respective companies. Nonetheless, as it has officially restored the withdrawals and deposits in USD, it is a positive development for the US residents.
Platform Also Offers Zero-Fee USD Withdrawals and Deposits along with Other Exclusive Benefits
In addition to this, the crypto trading firm is also offering zero-fee withdrawals and deposits from Wednesday onwards. The users can leverage this offer via ACH bank transactions. They will also be permitted to stake crypto assets, carry out OTC trades, and claim crypto domains. Moreover, Norman Reed (the interim CEO) expressed the plan to deliver complete USD services once again.