BINANCE TO OPEN US-BASED DIVISION WITH FINCEN APPROVED PARTNER

Last updated: June 20, 2025, 00:03 | Written by: Dan Larimer

The cryptocurrency world is constantly evolving, and one of the biggest players, Binance, has just made a significant move. Major cryptocurrency exchange Binance is establishing a United States-based division with a Financial Crimes Enforcement Network (FinCEN) approved partner. Binance is reportedly forming a new trading platform targeting U.S.-based clients dubbed Binance US, with a company called BAM Trading Services.Imagine being a US-based crypto enthusiast and finding your favorite exchange suddenly unavailable. Binance Updates: Binance US Division to Launch Before November, Venus Open Blockchain Project Initiated MoreThat was the reality for many when Binance initially restricted access for US residents due to regulatory hurdles. The article quotes Binance CEO Changpeng Zhao: We are excited to finally launch Binance US and bring the security, speed, and liquidity of Binance.com to North America. Binance US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance. An unnamed source from BAM Trading Services is also quoted:But fear not!Binance isn't leaving the US market entirely.Instead, they're strategically establishing a United States-based division in partnership with a Financial Crimes Enforcement Network (FinCEN) approved entity.This is huge news, signaling a commitment to compliance and a renewed focus on the American market. Bitcoin.com News Research lead David Sencil on the overreaction to tariffs, the end of American exceptionalism narrative, and whether the Bitcoin bottomThis new platform, often referred to as Binance US, aims to provide a compliant and secure trading environment for US citizens. Binance US wird von unserem lokalen Partner BAM gef hrt und den US-Markt gem den Regulierungen bedienen. Ein Vertreter von BAM Trading Services erkl rte: Es ist eine Ehre, mit Binance eine Partnerschaft zu schlie en und gleichzeitig ihre erstklassige Sicherheit und Technologie zu nutzen.This move not only addresses previous regulatory concerns but also opens up exciting possibilities for the future of cryptocurrency trading in the United States.Let's dive into the details of this game-changing development and explore what it means for crypto users and the broader industry.This partnership signifies a major step forward, demonstrating Binance's dedication to navigating the complex regulatory landscape of the US.The move is designed to offer a compliant platform for U.S. customers, allowing them to trade digital assets within a secure and regulated environment.This isn't just about re-entering the market; it's about doing it right.

Binance US: A New Beginning for American Crypto Traders

So, what exactly is Binance US and why is it such a big deal? p Binance is forming a new crypto exchange targeting U.S.-based clients dubbed Binance US /p Binance to Open US-Based Division With FinCEN Approved Partner - Sharecast.com SharecastWell, it's essentially a separate, US-focused cryptocurrency exchange built with US regulations in mind.This means stricter compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations, ensuring a safer and more transparent trading experience.This move to create a dedicated U.S. platform shows Binance's commitment to adhering to the strict regulatory framework in the United States.

What Makes Binance US Different?

Unlike the global Binance.com platform, Binance US offers a more tailored experience for US residents. FinCEN settlement of $3.4 billion and OFAC settlement of $968 million largest for each IRS CI investigation leads to Department of Justice action WASHINGTON The U.S. Department of the Treasury, through the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and IRS Criminal Investigation (CI), has taken unprecedented action to hold BinanceHere are some key differences:

Regulatory Compliance: Binance US operates under US regulations, ensuring compliance with FinCEN and other relevant agencies.
Limited Product Suite: While Binance.com offers a wide range of crypto products, Binance US initially features a more limited selection, focusing on the most popular cryptocurrencies and trading pairs.This approach allows them to prioritize regulatory compliance and gradually expand their offerings.
Geographic Restrictions: Binance US is specifically designed for US residents and may restrict access from other countries.This helps to maintain compliance with US laws and regulations.
Partnered Operations: Binance US is operated in conjunction with a US-based partner, BAM Trading Services, further emphasizing local expertise and compliance.

These differences are crucial for ensuring a safe and legal trading environment for US crypto enthusiasts.By prioritizing compliance and tailoring their services to the US market, Binance US aims to become a leading cryptocurrency exchange in the country.

The Significance of FinCEN Approval

The involvement of a FinCEN-approved partner is paramount to the success of Binance US. FinCEN, the Financial Crimes Enforcement Network, is a bureau of the US Department of the Treasury that combats financial crimes, including money laundering, terrorist financing, and other illicit activities. Now, as the Trump administration takes a supportive regulatory stance on the industry, Binance.US is ready to reintroduce its fiat services with a new banking partner, and says it will roll outGaining FinCEN approval signifies that the partner has demonstrated a commitment to compliance and has implemented robust measures to prevent financial crimes.This approval is a critical step in building trust with regulators and users alike.

Why is FinCEN Approval Important?

FinCEN approval brings several key benefits:

Legitimacy: It establishes Binance US as a legitimate and trustworthy platform in the eyes of regulators and potential users.
Compliance: It demonstrates that Binance US is committed to adhering to US financial regulations and preventing illicit activities.
Trust: It builds trust with users, who can be confident that the platform is operating legally and ethically.
Market Access: It opens the door to the US market, allowing Binance US to compete with other regulated cryptocurrency exchanges.

Essentially, FinCEN approval is a seal of approval that validates the platform's commitment to financial integrity.Without it, operating legally and attracting users in the US would be significantly more challenging.

Navigating Past Regulatory Hurdles: The Road to Binance US

The journey to establishing Binance US hasn't been without its challenges. バイナンスUSの運営を任せる。バイナンスのジャオ・チャンポン（通称CZ）CEOは、「ついにバイナンスUSの立ち上げができて興奮している」とし「Binance.comの安全性、スピード、流動性を北アメリカに持ち込む」と話した。Binance faced significant scrutiny from US regulators, including FinCEN, the Office of Foreign Assets Control (OFAC), and the Commodity Futures Trading Commission (CFTC), due to alleged violations of the Bank Secrecy Act and sanctions regulations.These challenges ultimately led to a substantial settlement with the US government.

The Weight of Past Violations

The previous issues faced by Binance were substantial and included:

Civil Money Penalties: FinCEN assessed a civil money penalty of $3.4 billion against Binance.
Settlements: A multi-faceted five-year FinCEN settlement of $3.4 billion and an OFAC settlement of $968 million.
Apparent Violations: Resolving potential civil liability for over 1.6 million apparent violations of multiple sanctions programs.

These penalties highlight the severity of the regulatory missteps and the importance of adhering to US laws and regulations.To address these issues, Binance agreed to retain an independent compliance monitor for five years to oversee and assess its sanctions compliance program.

A New Chapter: Lessons Learned and Compliance Measures

The establishment of Binance US represents a significant effort by Binance to rectify past mistakes and build a compliant platform for US users. Also on the same day of the announcement, the crypto exchange company has asserted that Binance will license its cutting-edge matching engine and wallet technologies to its US partner BAM to launch Binance.US, acknowledged by its recently approved FinCEN registration on J.By partnering with a FinCEN-approved entity and implementing robust compliance measures, Binance is demonstrating its commitment to operating within the legal framework of the United States. A principal exchange de criptomoeda do mercado, a Binance, est estabelecendo divis o da companhia nos Estados Unidos, em parceira com uma empresa que j aprovada pela Rede de Combate a Crimes Financeiros (FinCEN), de acordo com um comunicado de imprensa compartilhado com Cointelegrpah em 13 de junho.This new chapter reflects a dedication to transparency, security, and regulatory compliance.

The Partnership with BAM Trading Services

A crucial element of Binance's US strategy is its partnership with BAM Trading Services. Binance, the world s most influential crypto exchange, founded by Changpeng Zhao, is about to enter the US market and has found a local partner for itBAM Trading Services is the entity that operates Binance US.This partnership allows Binance to leverage its technology and expertise while ensuring that the platform operates in compliance with US regulations.BAM Trading Services takes the lead in managing the day-to-day operations of Binance US, focusing on regulatory compliance and customer service.

Benefits of the BAM Trading Services Partnership

The partnership with BAM Trading Services offers several advantages:

Local Expertise: BAM Trading Services has a deep understanding of the US regulatory landscape, ensuring that Binance US operates in compliance with all applicable laws and regulations.
Operational Management: BAM Trading Services manages the day-to-day operations of Binance US, allowing Binance to focus on technology and global strategy.
Customer Service: BAM Trading Services provides customer support to US users, addressing their questions and concerns in a timely and efficient manner.

This collaboration is designed to combine Binance's global reach and technological prowess with BAM Trading Services' local expertise and regulatory compliance.It's a strategic alliance that aims to create a safe and reliable cryptocurrency exchange for US users.

What Cryptocurrencies Are Available on Binance US?

While Binance US may not offer the same extensive selection of cryptocurrencies as its global counterpart, it still provides access to a range of popular digital assets.The initial offerings typically include major cryptocurrencies such as:

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Binance Coin (BNB)

Over time, Binance US plans to expand its cryptocurrency offerings, adding new digital assets that meet its rigorous compliance standards. Binance to Open US-Based Division With FinCEN Approved PartnerUsers can expect a growing selection of cryptocurrencies as the platform matures and regulatory approvals are obtained.

How to Use Binance US

Getting started with Binance US is a straightforward process. Binance, the Malta based exchange, announced on Friday that it is barring the US customers from its services : The sudden shutting down reportedly prompted the US customers to withdraw a large number of altcoins, which included Binance s very own native token BNB coin. BNB token dropped 5$ in price following the news, from 36$ to 31$ read more:Here's a step-by-step guide:

Create an Account: Visit the Binance US website and create an account. Today, the U.S. Department of the Treasury s Financial Crimes Enforcement Network (FinCEN) took unprecedented action to hold Binance Holdings Ltd. and several affiliates (collectively, Binance) accountable for willful violations of the Bank Secrecy Act and its implementing regulations. FinCEN s consent order assesses a civil money penalty of $3.4 billion, imposes a multi-faceted five-yearYou'll need to provide your personal information and verify your identity.
Complete KYC Verification: As a regulated cryptocurrency exchange, Binance US requires users to complete Know Your Customer (KYC) verification. Binance has partenered with BAM Tradig Services for its U.S. launch as the crypto exchange plans to expand its footprint to one of biggest cryptocurrency markets.This involves submitting documentation to verify your identity and address.
Deposit Funds: Once your account is verified, you can deposit funds using various methods, such as bank transfers or cryptocurrency deposits.
Start Trading: With funds in your account, you can start trading cryptocurrencies on the Binance US platform. Binance.US is a digital asset trading platform that allows clients to securely trade more than 150 different cryptocurrencies. While Binance.US is considered a non-bank financial institution, we are still required to register as a Money Services Business ( MSB ) with the Financial Crimes Enforcement Network ( FinCEN ), which we did on J before launching operations onChoose the cryptocurrency you want to trade and place your order.
Secure Your Account: Enable two-factor authentication (2FA) to protect your account from unauthorized access.

By following these steps, you can safely and efficiently begin trading cryptocurrencies on Binance US.

The Future of Binance US and the US Crypto Market

The launch of Binance US represents a significant milestone for Binance and the US cryptocurrency market. Binance will open a US-based division with FinCEN 欄As the platform matures and regulatory clarity increases, Binance US is poised to play a major role in the growth of the US crypto industry. Major cryptocurrency exchange Binance is establishing a United States-based division with a Financial Crimes Enforcement Network (FinCEN) approved partner, according to a press release shared withThe future of Binance US looks promising, with potential for expanded product offerings, increased user adoption, and greater integration with the traditional financial system.

Potential Growth Areas

Here are some areas where Binance US could potentially grow:

Expanded Cryptocurrency Offerings: Adding more cryptocurrencies to the platform to cater to a wider range of investors.
New Products and Services: Introducing new products and services, such as staking, lending, and margin trading, to enhance the user experience.
Institutional Adoption: Attracting institutional investors to the platform by offering tailored services and solutions.
Regulatory Compliance: Maintaining a strong focus on regulatory compliance to ensure the platform operates legally and ethically.

By focusing on these growth areas, Binance US can solidify its position as a leading cryptocurrency exchange in the United States and contribute to the broader adoption of digital assets.

Addressing Common Questions About Binance US

With the launch of Binance US, many users have questions about the platform and its operations.Here are some common questions and their answers:

Is Binance US Safe?

Yes, Binance US employs industry-leading security measures to protect user funds and data.These measures include two-factor authentication (2FA), encryption, and cold storage of assets. Binance also agreed to retain an independent compliance monitor for five years, whose mandate will include review and assessment of Binance s sanctions compliance program. The settlement resolves Binance s potential civil liability for 1,667,153 apparent violations of multiple sanctions programs.However, it's essential to practice good security habits, such as using strong passwords and being wary of phishing scams.

Is Binance US Legal in the United States?

Yes, Binance US operates in compliance with US regulations and has obtained the necessary licenses and approvals to operate as a cryptocurrency exchange.The platform is registered as a Money Services Business (MSB) with FinCEN and adheres to all applicable laws and regulations.

Can I Use Binance US If I'm Not a US Resident?

No, Binance US is specifically designed for US residents and may restrict access from other countries.If you're not a US resident, you'll need to use the global Binance.com platform or another cryptocurrency exchange that supports your location.

What Fees Does Binance US Charge?

Binance US charges trading fees that vary depending on your trading volume and membership level.The platform also charges fees for withdrawals and deposits. Major cryptocurrency exchange Binance is establishing a United States-based division with a Financial Crimes Enforcement Network (FinCEN) approved partner, according to a press release shared with Cointelegrpah on June 13.You can find a detailed breakdown of the fee structure on the Binance US website.

How Does Binance US Protect My Privacy?

Binance US is committed to protecting user privacy and adheres to all applicable privacy laws and regulations. Binance, the world s largest cryptocurrency exchange by volume, is launching a U.S. division. The Malta-based company said Thursday it is setting up Binance US, a new trading platformThe platform employs various measures to safeguard user data, including encryption, access controls, and data minimization.

Conclusion: Binance US - A Compliant Gateway to Crypto

The establishment of Binance US with a FinCEN approved partner is a significant step towards mainstream crypto adoption in America. The Cato Institute raises concerns over Fincen's new reporting regulations, signaling a threat to financial privacy. As governments tighten their grip, couldIt demonstrates Binance's commitment to navigating the complex regulatory landscape while providing a secure and compliant platform for US users.While Binance faced significant regulatory hurdles in the past, this partnership signals a new era of compliance and cooperation.By partnering with BAM Trading Services, Binance US aims to offer a tailored experience that adheres to US regulations, making it easier for Americans to access and trade cryptocurrencies.

Key takeaways from this development include:

Regulatory Compliance is Key: Binance's experience underscores the importance of regulatory compliance in the cryptocurrency industry.
Binance US Offers a Compliant Alternative: US residents now have a regulated and secure platform to trade cryptocurrencies.
The Future of Crypto in the US is Bright: The launch of Binance US signals a growing acceptance of cryptocurrencies in the United States.

As Binance US continues to evolve and expand its offerings, it has the potential to become a leading cryptocurrency exchange in the US, further driving the adoption of digital assets and paving the way for a more inclusive and innovative financial future.Ready to explore the world of crypto with a compliant and secure platform?Visit Binance US today and start your journey!The launch of Binance US marks a pivotal moment in the cryptocurrency landscape, bridging the gap between global innovation and local regulation, ultimately empowering American users to participate in the exciting world of digital finance.