Binance.US Eyes US Expansion After SEC Lawsuit Dismissal, CZ Says
Following the dismissal of a major securities lawsuit by U.S. regulators, Binance.US, the American affiliate of the world’s largest cryptocurrency exchange, is positioning itself for growth within the United States. This strategic shift was outlined by Binance co-founder Changpeng “CZ” Zhao in a recent interview with Bloomberg News.
A New Regulatory Chapter
The U.S. Securities and Exchange Commission (SEC) had filed a 13-charge lawsuit against Binance entities and CZ in June 2023, alleging the operation of an unregistered exchange and the offering of unregistered securities. The case was formally dismissed with prejudice in May 2024, marking a significant policy shift under the current administration. This change has been characterized by a move away from enforcement actions toward establishing a clearer regulatory framework, exemplified by the SEC’s new “Crypto Task Force” led by Chair Paul Atkins.
CZ, who stepped down from day-to-day operations in 2023 but remains Binance’s largest shareholder, indicated that the more accommodating environment could enable Binance.US to pursue critical initiatives. He specifically mentioned the potential for “enhanced banking partnerships” or even securing a formal financial charter. However, he cautioned that any such moves would depend on subsequent legal and management decisions, emphasizing that his comments pertained solely to the U.S. entity and not Binance’s international operations.
The Toll of Legal Turmoil
The 2023 lawsuit had immediate and severe consequences for Binance.US. The platform was forced to suspend U.S. dollar deposits and withdrawals—a freeze that lasted approximately 18 months. During this period, the exchange’s trading volume plummeted, and its market position was significantly eroded as users and liquidity migrated to competitors.
Separately, in late 2023, Binance agreed to pay $4.3 billion in penalties to resolve a U.S. government investigation into anti-money laundering compliance failures. As part of that settlement, CZ pleaded guilty to related charges and served a four-month prison sentence before being released in September 2024. He later received a presidential pardon in October 2025.
Speculation and Denials
The pardon and the regulatory shift have fueled public speculation about potential connections between the Trump family and Binance, particularly regarding a decentralized finance (DeFi) project called World Liberty Financial, which is backed by Donald Trump Jr. and Eric Trump. Some analysts have wondered if this could pave the way for CZ to return to an executive role.
CZ has directly addressed these rumors, stating unequivocally, “I have no business ties with the Trump family.” He has also repeatedly denied any intention of returning as Binance CEO, calling that chapter of his career “closed.” His focus, he asserts, remains on his role as a shareholder and on the broader industry’s development under the new regulatory paradigm.
Looking Ahead
The path forward for Binance.US is now framed by a dramatically different U.S. crypto policy landscape. The combination of a resolved securities lawsuit, a resolved AML case, and a regulatory philosophy shift from enforcement to rulemaking has removed what CZ described as a primary barrier to expansion. The company’s ability to rebuild banking relationships and restore full fiat on-ramps will be a critical test of this new era. While CZ is not returning to the helm, his vision for the U.S. subsidiary’s potential now rests on the decisions of its current management and the evolving clarity from Washington.
