Major news just broke out regarding the U.S. wing of the world's largest cryptocurrency exchange, Binance. In the last couple of years, the activity of Binance US, and the black-and-yellow exchange broadly, has been significantly shredded due to regulation and law enforcement implemented by the previous SEC administration.
However, with the change of policy regarding crypto in the upper echelons of U.S. politics, it seems that Binance US has been given the "green light" to function in full-fledged mode again. Thus, today, it was announced that U.S. dollar services are back on at Binance US, with plans to gradually roll out the feature to all eligible customers in the coming days.
Gamza KhanzadaevAccording to the exchange's own announcement, this means that users can now deposit and withdraw USD by linking a bank account, buy crypto via bank transfer through Alchemy Pay (ACH) and start trading in USD pairs.
Regarding the latter, the exchange announced that access to several trading pairs has been restored, with such popular cryptocurrencies as Shiba Inu (SHIB), Dogecoin (DOGE), Cardano (ADA) and Stellar (XLM) now available for trading in pairs with USD on Binance US. The list also includes Bitcoin, Binance Coin, Solana, Ethereum, Hedera and SUI.
Staking on Binance US back too
Crypto staking is now also open on Binance US, which is also major news, as this particular activity has also been strictly hunted by regulators in the past, with tokens being claimed as securities due to this feature.
Valeria BlokhinaOne may remember how the likes of ADA or SOL were accused of being unregistered securities, while most U.S. exchanges, like Binance US, Coinbase or Kraken, all received Wells notices due to their staking services.
So, what does this mean? Are crypto exchanges in the U.S. going to have to follow fewer rules? Maybe. Or maybe this is just the first step in a longer, more complex evolution.
Dan Burgin
Vladislav Sopov