'Judicial risk' cleared for Binance... Launch of US Dollar Service

The US branch of the global cryptocurrency exchange Binance has launched a United States dollar (USD) service.

On the 29th (local time), Binance US announced on its official X account, "We are launching the US dollar service," and stated, "Now, all customers can deposit dollars and purchase cryptocurrencies via bank transfer."

Binance's launch of the dollar service comes on the heels of the withdrawal of a lawsuit by the US Securities and Exchange Commission (SEC). On this day, the SEC and Binance submitted a joint agreement to the United States District Court for the District of Columbia to dismiss the lawsuit filed by the SEC. Previously, in 2023, the SEC had indicted Binance and Changpeng Zhao, the founder of Binance, for alleged violations of US securities law.

Binance emphasized that this lawsuit dismissal is a "significant milestone." The company stated, "The SEC has fully withdrawn all charges against Binance," and added, "This officially confirms that we have not violated US securities law." It continued, "Now that this case is closed, we can focus entirely on growth," and also said, "We are more optimistic than ever about the future of Binance and cryptocurrencies in the United States."