Binance.US eyes deeper banking ties and charter options after SEC lawsuit withdrawal

Binance.US, the American arm of the global crypto exchange, is pursuing expansion in the US after securities regulators dropped their 2023 lawsuit against the platform, said Binance’s co-founder Changpeng “CZ” Zhao in a recent interview with Bloomberg News.

CZ, who is no longer involved in the day-to-day operations of Binance but remains its largest shareholder, suggested that a more accommodating regulatory environment could open the door to options such as enhanced banking partnerships or securing a financial charter.

However, he indicated that execution would depend on legal and management decisions. The billionaire stressed that his comments applied exclusively to the US-based entity, not international operations.

The US SEC brought suit against Binance entities and CZ in June 2023, leveling 13 charges that included allegations of running an unregistered exchange and offering unregistered securities. Regulators formally dismissed the case with prejudice last May following a shift in regulatory policy and a mutual agreement between the parties.

Under the second Trump administration, authorities have moved to drop several high-profile cases tied to the crypto sector.

With Paul Atkins taking the helm at the US SEC and the launch of a “Crypto Task Force,” the government has abandoned its prior reliance on enforcement actions, opting instead for a structured regulatory framework intended to strike the balance between investor protection and innovation promotion.

The lawsuit prompted Binance.US to suspend dollar deposits and withdrawals, a freeze lasting roughly 18 months that gutted its market position. Trading volume plummeted during that period.

Separately, Binance agreed to pay $4.3 billion in penalties tied to anti-money-laundering violations in late 2023, with CZ pleading guilty to related charges.

After serving a four-month prison sentence, CZ was released in September 2024. He received a presidential pardon in October 2025.

The move ignited speculation about potential business discussions between the Trump family and Binance, raising the prospect of CZ returning to an executive position.

CZ has repeatedly denied any business ties with the Trump family, dismissing speculation around World Liberty Financial, a DeFi venture backed by the two Trump sons.

Despite receiving a presidential pardon, CZ maintains he has no intention of returning as CEO, calling that chapter closed.