Binance.US, the American affiliate of the global crypto exchange, is reportedly exploring expanding within the US to develop and offer “superior products” to the American market, following the Trump administration’s easing of enforcement actions and push for a clear regulatory framework.
Binance.US Eyes Local GrowthIn an interview at the Mar-a-Lago forum hosted by the Trump family’s World Liberty Financial (WLFI), he affirmed that the platform wants to “bring a superior product into the US,” adding, “We want to make the superior product offering much more accessible to the US consumer.”
Zhao, also known as CZ, clarified that his remarks concerned only the US affiliate, not the global exchange, noting that he doesn’t run Binance. He also asserted that his role as the exchange’s leader is “a chapter that’s closed.”
In 2023, the global exchange also pleaded guilty to federal charges and agreed to pay over $4 billion to resolve the Department of Justice’s (DOJ) investigation.
Despite the potential expansion, Zhao acknowledged that the exchange faces obstacles following the now-dropped 2023 lawsuit by the US Securities and Exchange Commission (SEC), which led to a significant loss in banking access and market share.
A Binance.US spokeswoman told Bloomberg that the company “remains committed to being the best platform for users to buy, trade, and earn digital assets in the US. We continue to actively build and grow our platform through new products and offerings, enhancing our ability to deliver an experience that meets the evolving needs of crypto investors.”
US Crypto Regulatory LandscapeTeng also discussed the state of US crypto regulations, affirming that “any regulation will be better than no regulation.” He argued that having regulatory clarity will allow crypto companies to navigate the market effectively.
His comments followed concerns about the passage of the crypto market structure bill, which has been stalled at the Senate Banking Committee for over a month. The legislation’s January markup was delayed after part of the crypto industry withdrew its support for the bill over stablecoin rewards.
The draft proposed that issuers offer rewards for specific actions, such as account openings and cashback, but also prohibited issuers from providing interest payments to passive token holders.
The White House also proposed anti-evasion language to give the SEC, the Commodity Futures Trading Commission (CFTC), and the Department of the Treasury authority to enforce a ban on paying yield on idle stablecoin balances.
Following the meeting, some attendees believe the legislation could meet the White House’s end-of-month deadline set last week and reach President Trump’s desk soon.
