Binance US is Back! Get Ready to Deposit USD Like It’s 2021! 💸

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Well, well, well! Look who decided to join the party after a two-year nap! Binance US is finally letting eligible customers deposit and withdraw USD again. 🎉 Yes, you heard that right! It’s like they’ve just discovered the concept of money transfers. This feature, which was MIA for what feels like an eternity, will be rolling out to users faster than you can say “cryptocurrency.”

Binance US Reinstates USD Deposits and Withdrawals

According to a blog post that probably took longer to write than the actual suspension, Binance.US is bringing back USD deposits and withdrawals for the first time since 2023. They’re rolling it out in phases, because who doesn’t love a good suspenseful wait? Users can now link their bank accounts and transfer cash without any pesky fees. It’s like a free lunch, but for your money!

This thrilling update comes after Binance US decided to go all-in on crypto-only trading in 2023, thanks to some regulatory drama. But fear not! They’re back, and they’re committed to giving you a “reliable” trading experience. Just remember, only the chosen ones (a.k.a. eligible users) get to play with the fiat toys.

Earlier today, Binance CEO Richard Teng was practically glowing with optimism about the crypto-friendly vibes under President Donald Trump. He mentioned that the U.S. is moving away from being the strict parent to a more “let’s-try-this-out” approach to crypto regulations. But hold your horses! They’re still waiting for the regulatory fairy to sprinkle some clarity before making any big moves.

Trading Pairs and New USD Features

With USD services back in action, Binance US is ready to roll out trading across multiple USD pairs. They’re starting with ten pairs, including the classics like BTC/USD and ETH/USD. More pairs will be added, because who doesn’t love options? 🎈

And wait, there’s more! You can now set up recurring buys and convert between USD and crypto faster than you can say “volatile market.” Plus, you can stake over 20 Proof-of-Stake cryptos and place large orders through their OTC trading portal. It’s like a buffet of trading efficiency!

Regulatory Challenges and Market Position

Let’s rewind to June 2023 when Binance.US decided to hit the pause button on fiat transactions after the SEC threw a lawsuit their way. Apparently, they were accused of breaking some securities laws, which led to a bit of a banking fiasco. Oops!

Since then, their market share has taken a nosedive. They went from holding a cool 10% of the fiat trading volume to a measly 0.1% as of January 2025. Talk about a glow-down! But don’t worry, they’re still prioritizing regulatory compliance like it’s their new year’s resolution.

Thanks to the pro-crypto vibes from the Trump administration, there have been some positive changes in the regulatory landscape. A U.S. federal judge even hit pause on the SEC’s lawsuit against Binance for 60 days. It’s like a timeout for the regulators to rethink their life choices. This comes as the SEC reassesses its approach, led by the crypto-friendly Commissioner Hester Peirce. Go, Hester!

And as if that wasn’t enough, Binance US is expanding its institutional offerings. They now have an institutional trading portal for market makers, hedge funds, and asset managers to engage in high-volume transactions. Because why not let the big kids play too?

They’ve also introduced new API trading options and crypto domain services. It’s like they’re throwing a tech party, and everyone’s invited! 🎊

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2025-02-19 23:58