Binance.US is set to relaunch USD services in early 2025 after facing banking restrictions and legal challenges. This decision aligns with optimism about potential changes in US crypto policies, marking a crucial turning point for the exchange after a challenging year.
The company's recent announcement underscores the significance of reviving fiat services, which interim CEO Norman Reed describes as the most requested feature by users. Despite past regulatory scrutiny, Binance.US maintains strong operations and supports over 160 cryptocurrencies, attributing regulatory pressure to a deliberate effort to limit banking services for crypto firms.
On a global scale, Binance remains cautious about re-entering the US market. CEO Richard Teng highlights the company's focus on expanding globally and complying with regulations, emphasizing the importance of compliance as a competitive advantage. This strategy follows a substantial settlement with the Department of Justice addressing allegations related to sanctions violations and money laundering.
As Binance.US navigates the complexities of the US regulatory environment, expectations loom over potential policy shifts with a new administration. Restoring USD services could indicate the feasibility of operating crypto platforms within the US regulatory framework.
