{
}
Binance.US's interim CEO, Norman Reed, criticized the SEC for labeling the firm a "cauldron of fraud" without evidence, leading to significant operational challenges and a loss of customers. Despite enduring a lawsuit and a 70% staff reduction, Reed remains optimistic about revitalizing USD fiat services and rebuilding banking relationships. He emphasized that other regulatory bodies found no wrongdoing, highlighting the SEC's unique pursuit of Binance.US amidst broader scrutiny of the crypto industry.
Binance.US plans to restore USD services by early 2025, responding to user demand after suspending fiat trading in June 2023 due to regulatory challenges from the SEC. Acting CEO Norman Reed highlighted the importance of these services for operational recovery and user experience. Despite ongoing legal scrutiny, the exchange aims to enhance compliance, expand product offerings, and maintain competitive trading fees, positioning itself as a key player in the evolving crypto landscape.
Binance.US plans to restore USD services by early 2025, responding to user demand after suspending fiat trading in June 2023 due to regulatory challenges from the SEC. Interim CEO Norman Reed highlighted the importance of these services for operational functionality and user experience. Despite ongoing legal scrutiny, the exchange aims to enhance compliance, expand product offerings, and maintain competitive trading fees, positioning itself as a key player in the evolving crypto landscape.
Binance.US plans to resume USD services in early 2025, anticipating favorable regulatory changes after halting fiat operations in 2023 due to SEC claims. Interim CEO Norman Reed criticized the SEC's impact on the crypto industry and expressed optimism for a clearer regulatory framework under the next SEC Chair, Paul Atkin. The platform aims to enhance its offerings, including unique features like 0% fee Bitcoin trading and support for 160 cryptocurrencies, positioning itself for a significant comeback in 2025.
Norman Reedus
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
binance us chief criticizes sec for unfounded fraud allegations and impact
United States Dollar
USA
Changpeng Zhao
Brad Garlinghouse
Marc Andreessen
Gary Gensler
Norman Reedus
Show more
08:48 14.01.2025
Binance US plans to restore USD services by early 2025
07:49 20.12.2024
binance us plans to restore usd services by early 2025
15:44 19.12.2024
binance us plans to resume usd services in early 2025
15:02 19.12.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Financial Scams and Security
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Hedge Funds & Private Equity
Market Analysis and Predictions
Retail and Consumer Goods
Supply Chain Management
Startups & Entrepreneurship
Workplace Trends
CEO Changes
Real Estate Investments
Global Trade Developments
Cryptocurrency Trends
Government Economic Policies
Venture Capital Investments
Crypto Adoption and Integration
Countries:
Companies:
JPMorgan Chase & Co.
Barclays PLC
Bank of America Corporation
The Goldman Sachs Group, Inc.
Tesla, Inc.
Citigroup Inc.
Geode Capital Management LLC
Wells Fargo & Company
Morgan Stanley
The Charles Schwab Corporation
NVIDIA Corporation
Charles Schwab Investment Management Inc.
Credit Suisse Real Estate Fund Siat
State Street Corporation
Apple Inc.
Tesmec S.p.A.
UBS Group AG
Broadcom Inc.
Deutsche Bank Aktiengesellschaft
Lloyds Banking Group plc
Currencies:
United States Dollar
British Pound Sterling
Swiss Franc
Chinese Yuan
Euro
Indian Rupee
United Arab Emirates Dirham
South Korean Won
Offshore Chinese Yuan
Japanese Yen
Azerbaijani Manat
New Taiwan Dollar
Saudi Riyal
Singapore Dollar
Vietnamese Đồng
Hong Kong Dollar
People: