"After Gensler left, Binance.US announced the restoration of USD services, and USD liquidity returned to the crypto market!"

Binance.US plans to resume USD deposit and withdrawal services in early 2025, a major progress since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit in June 2023. Interim CEO Norman Reed revealed in a blog that although the exact date cannot be determined at present, "restoring USD services is imminent." He emphasized that it is not a matter of whether it can be restored, but when it can be restored.

The change is closely related to the upcoming departure of Gary Gensler, chairman of the U.S. Securities and Exchange Commission. The crypto industry generally criticized Gensler for hindering the development of the industry through excessive regulation. Reed pointed out that although the SEC has launched a long-term investigation into Binance.US, no specific charges have been made against the platform so far.

Binance.US has had to abandon its USD business since the SEC's lawsuit and switch to only cryptocurrency trading. However, with the changes in the policy environment, especially David Sachs's investigation plan for "Choke Point 2.0", Binance US is expected to restore its connection with the traditional financial system under the new regulatory climate.

Although the case is still under trial, Reed remains optimistic that this is only a temporary challenge. He also mentioned that the Binance.US team has patiently responded to the pressure from the SEC and will continue to promote the realization of this important milestone.

With the gradual changes in the US regulatory environment, Binance's reopening of US dollar services may bring more positive signals to the crypto industry. How the future cryptocurrency market will evolve is worthy of the attention of each of us.

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