Binance.US: The Comeback of the Dollar! 💸

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Ah, dear readers! Gather ’round, for I bring tidings of great import! Binance.US, the gallant knight of the cryptocurrency realm, has triumphantly restored the noble art of depositing and withdrawing the illustrious US dollar (USD) upon its grand platform! 🎉

On a fine Wednesday, the company proclaimed that from the 19th of February, all USD features shall be reinstated! But lo! Fear not, for this grand rollout shall be as gradual as a tortoise in a race, with eligible customers gaining access in the days to come. 🐢

A Fresh Start: Binance.US Rebuilds After SEC Lawsuit

Once the services are fully restored, those fortunate souls residing in eligible States shall be able to engage in the delightful dance of buying and selling cryptocurrencies with the US dollar! They may fund their accounts directly from their banks, convert their existing tokens to USD, set recurring buys, and even trade in the splendid USD pairs! What a feast for the senses! 🍽️

But wait, there’s more! Users can also embark on the noble quest of staking their cryptocurrencies to earn additional rewards. The company has graciously added support for over 20 digital assets, including the likes of Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and Polkadot (ADA). A veritable cornucopia of riches! 💰

Moreover, the platform doth support over-the-counter (OTC) trading, API-based trading, and institutional services for the grand lords of finance—market makers, trading firms, asset managers, hedge funds, family offices, and venture capitalists. Truly, a banquet for the wealthy! 🍷

To keep the competition at bay, Binance.US hath vowed to maintain lower fees and continue its zero-fee Bitcoin (BTC) trading initiative. A most generous offer, indeed! 🎩

But hark! The relaunch of the USD services comes on the heels of the company’s interim CEO, the illustrious Norman Reed, declaring that they are exploring ways to bring back these features in the distant future of early 2025. A tale of patience, my friends! 📅

Regulatory Issues Behind USD Suspension

Yet, as with all great tales, trouble brewed in paradise when the US Securities and Exchange Commission (SEC) unleashed a lawsuit upon our brave exchange in 2023. The Commission, in its wisdom, claimed that the exchange, operating independently from its parent company, Binance, had violated the sacred laws of federal securities! 😱

They accused the company of offering securities without the proper authorization, raising alarms about the protection of our dear investors. A scandal most dire! ⚖️

As a result, the platform was forced to halt fiat transactions, transforming into a crypto-only exchange, much to the dismay of its loyal subjects. 🏰

The regulatory tempest escalated to the state level, leading to the termination of some money transmitter licenses in seven US States, including North Dakota, Alaska, Florida, Maine, North Carolina, and Oregon. The state authorities, in their infinite wisdom, justified this revocation as a necessary measure to protect the good citizens from potential nefarious financial activities. 🛡️

In response, Binance.US suspended new user registrations in several states and remained unlicensed in key markets such as New York and Texas. A most unfortunate turn of events! 😔

But lo and behold! After what seemed like an eternity of regulatory skirmishes, Binance.US hath returned to the market, now equipped with fiat deposit capabilities, allowing customers to trade cryptocurrencies with their beloved local currency! A triumphant return, indeed! 🎊

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2025-02-19 19:47