After the SEC case was dropped, Binance.US is looking at deeper banking relationships and charter options

Binance.US, the U.S. arm of the global crypto exchange, is eyeing expansion in the U.S. after security regulators dropped its 2023 allegations on the platform, Binance co-founder Changpeng “CZ” Zhao said in an interview with Bloomberg News.

CZ, which is no longer involved in Binance's day-to-day operations but remains its largest shareholder, suggested that a more favorable regulatory environment could open the door to options such as improved banking partnerships or a financial charter.

However, he pointed out that the death penalty depends on legal and administrative decisions. The billionaire said the comments only apply to US-based operations, not international operations.

The US SEC filed a lawsuit against Binance entities and CZ in June 2023, alleging 13 charges, including conducting unregistered exchanges and offering unregistered securities. Following a change in regulatory policy and a mutual agreement between the parties, regulators dismissed the case with prejudice last May.

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

When Paul Atkins took the helm of the US SEC and launched the “Crypto Task Force”, the government abandoned its previous reliance on enforcement measures and instead opted for a structured regulatory framework intended to strike a balance between protecting investors and promoting innovation.

The lawsuit prompted Binance.US to suspend dollar deposits and withdrawals, a ban that would last for 18 months and disrupt the marketplace. During that period, transaction volume decreased.

Separately, Binance agreed to pay $4.3 billion in fines related to anti-money laundering violations by the end of 2023, after CZ pleaded guilty to related charges.

After being sentenced to four months in prison, CZ was released in September 2024. He received a presidential pardon in October 2025.

The move sparked speculation about possible trade talks between the Trump family and Binance, raising hopes of CZ returning to an executive position.

CZ has repeatedly denied any business ties to the Trump family, denying speculation that it had a stake in Liberty Financial, a DeFi venture backed by two of Trump's sons.

Despite the presidential pardon, CZ said he has no intention of returning as CEO, calling it a chapter closed.