Binance.us, a regulated cryptocurrency, serving US customers, has finally seen its US dollar -fiat services restored after the company’s ability to handle USD deposits and withdrawals was strangled out of existence during the bite administration.
Access to Fiat services begins Wednesday and will gradually be rolled out to all eligible customers in the coming days, Binance said. Users will be able to deposit and withdraw USD with zero fees using bank transfer (ACH) and continue to buy, sell, convert and trade over 160 cryptocurrencies, the company said in a press release.
An excessive securities and exchange commission (SEC) led by President Gary Gensler decided, Post-Fftx that Binance.us should be guilty of something and the regulator did his best to knock out the company. Despite losing billions in business and being forced to cut 70% of his staff, Binance continued .us to act as a crypto-to-crypto-only exchange from July 2023 until today.
“Before we lost Fiat, we were neck and neck with Kraken as the second or third largest US exchange, but of course we have dropped significantly thanks to Operation Chokepoint 2.0, SEC and all that mess,” said Binance. In an interview.
“We have made some very hard but healthy decisions with regard to our cost structure and the right-sized size, and we have never been slimmer or slimmer or more ready to deliver an excellent product at a reasonable price and today is the day,” he said.
Bloodgett said the company currently has several bank partners in the mixture, as well as the company the exchange is going today, which was not named at this time.
Binance.us is affiliated with the Global Binance Platform but acts as a separate American company.
