With the SEC withdrawing its lawsuit, Binance.US has made a strong comeback, reinstating USD services, witnessing a surge in user engagement, and signaling a regulatory shift that appears to benefit the crypto sector.
Binance.US Triumphs as SEC Lawsuit Dismissal Signals Regulatory Retreat
On May 29, crypto exchange Binance.US announced that the U.S. Securities and Exchange Commission (SEC) had officially dropped its lawsuit entirely, marking the conclusion of a prolonged legal dispute. The company characterized the resolution as a strong affirmation of its practices, asserting that the dismissal supports its stance of never breaching U.S. securities laws. Executives at Binance.US strongly criticized the SEC’s prior actions, contending that the case exemplified a broader trend of regulation through enforcement, which they claim negatively impacted innovation and consumers within the American crypto industry.
Soon after the legal announcement, the company posted a message on social media platform X to highlight the resurgence of its operations.
USD services are live. Effective immediately, ALL customers can now deposit USD and buy crypto using bank transfer (ACH). Case closed: Binance.US is officially back!
The announcement signified the final stage in gradually restoring banking capabilities for U.S. customers—a significant achievement enabling smooth deposits and crypto purchases through ACH transfers without any fees. Binance.US reported a rapid increase in user activity once USD services resumed, indicating that confidence and participation are swiftly rebounding.
The crypto exchange acknowledged the U.S. courts for resisting what it described as excessive regulation and commended new SEC Chairman Paul Atkins for adopting a more balanced regulatory approach. The platform currently offers support for over 170 cryptocurrencies and provides staking rewards on more than 20 assets. Binance.US also highlighted its active involvement in policy development through ongoing regulatory collaboration and compliance efforts.
The SEC’s recent move aligns with broader shifts in regulatory dynamics, including the exit of Gary Gensler from the agency. Multiple legal actions against crypto companies have recently been dropped, a development seen by supporters as a long-awaited correction. Binance.US—established in 2019 as a separate entity to meet U.S. regulatory requirements—was among those named in the SEC’s June 2023 lawsuit, alongside the global Binance platform and its founder, Changpeng Zhao (CZ), who later resigned and admitted guilt in a separate U.S. Department of Justice case. With these legal matters now resolved, both Binance and Binance.US are focusing on expansion in an evolving regulatory landscape.
