However, Binance.US plans to restart US dollar services in early 2025. Interim CEO Norman Reed explained in a Dec. 18 blog post that the company is “closer than ever” to restoring USD services and aims to achieve that goal in early 2025.

“With the return of USD, we are committed to solidifying our reputation as the best crypto platform offering low fees and high rewards,” Reed said. Reed also stated that the platform will continue to offer new features and products.

Binance.US is working on new partnerships and solutions to improve its infrastructure. Aiming to offer expanded storage solutions, new wallet options and other advantages, the platform plans to provide a more comprehensive experience to its users.

Reed stated that he believes 2025 will be an important breakthrough year for Binance.US and said, “Our team is working to write a legendary comeback story. “I invite everyone to join us to take Binance.US to the next level,” he said.

Binance.US was first founded in 2019 to provide regulated cryptocurrency trading services for users in the United States. However, the platform was sued by the US Securities and Exchange Commission (SEC) in June 2023 for not registering Binance.US as an exchange.

Following this case, the platform was forced to suspend US dollar deposits within a few days.

In October 2023, Binance.US updated its terms of service and announced that it would completely end support for the US dollar. In a statement made in June 2023, the platform stated that it aims to be a “crypto-only exchange.” However, recent developments show that Binance.US is preparing to re-introduce USD services.

In November 2023, Binance reached a $4.3 million settlement with the US government on charges including sanctions violations, money laundering, and unlicensed money transfer. This agreement included that the company had to completely withdraw from its operations in the United States.

The Treasury Department stated that Binance must meet important compliance commitments. These commitments included completing the company’s complete exit from the United States. However, Binance.US’s planning to restart USD services by meeting these compliance requirements is considered a positive step for the future of the company.

Binance.US continues to offer unrivaled features to its users. “We offer unique features like 0% transaction fees on the BTC/USDC pair,” Reed said in the blog post. Additionally, the platform provides trading support for 160 cryptocurrencies and staking services for more than 20 crypto assets.

Binance.US’s restructuring efforts demonstrate the platform’s commitment to improving user experience and overcoming regulatory issues. 2025 may be the year when the platform will achieve its growth targets and provide more services to its users.