CZ says Binance US may expand in the U.S. after the SEC withdrew its 2023 lawsuit, with banking ties and licensing under review.
Binance founder Changpeng Zhao said Binance US is exploring growth opportunities in the United States after the withdrawal of the Securities and Exchange Commission’s 2023 lawsuit.
He stated that any expansion would apply only to Binance US and not the global Binance platform.
SEC Withdraws 2023 Lawsuit Against Binance US
Bloomberg reported that the SEC withdrew its 2023 lawsuit against Binance US under new leadership.
The case had alleged violations of U.S. securities laws. The withdrawal marks a shift in the regulatory stance toward the company’s U.S. affiliate.
The lawsuit had created legal and operational pressure for Binance US. Regulatory scrutiny affected partnerships and banking access during that period.
The decision to withdraw the case removes an active legal proceeding against the firm.
CZ addressed the development in public remarks. He noted that the change creates room to consider new initiatives in the United States.
However, he did not provide a specific timeline for expansion.
Plans for Banking Partnerships and Licensing
According to Bloomberg, Zhao said Binance US may seek deeper banking partnerships. He added that potential licensing efforts are also under review.
These steps would depend on legal assessments and internal evaluation.
He stated that any expansion plans are subject to review by the company’s legal team. “Deeper banking partnerships or potential licensing are possible,” he said, as reported.
The company is assessing options in light of the updated regulatory environment.
Access to banking services has been a challenge for several crypto firms in the United States.
Stronger partnerships could improve fiat on-ramps and payment processing. Licensing efforts could also support broader service offerings within regulatory frameworks.
Related Reading: Binance Reports 97% Drop in Sanctions Exposure Since 2024
Comments Limited to Binance US Operations
Zhao emphasized that his comments apply only to Binance US. He clarified that they do not relate to the global Binance platform.
The distinction reflects separate operational and regulatory structures. Binance US operates as an independent entity focused on the U.S. market.
The global Binance exchange serves users in multiple jurisdictions outside the United States. Regulatory approaches vary across these regions.
The potential expansion comes as the U.S. crypto market continues to evolve. Changes in regulatory leadership have influenced enforcement actions and policy direction.
Binance US is now evaluating how to position itself within the current framework while maintaining compliance with applicable laws.
Source: https://www.livebitcoinnews.com/cz-signals-binance-us-expansion-after-sec-drops-2023-lawsuit/
