US residents cannot use Binance.com, but Binance US (operated by BAM Trading Services) serves customers in supported states, while New York, Texas, and 14 other states and territories remain unsupported as of its June 3, 2026 list. Globally, Binance is operating under its November 2023 resolution with the US Department of Justice, which set a total financial penalty of $4,316,126,163.
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US residents are served by Binance.US, a legally separate US platform, rather than by the global Binance.com exchange. Availability depends on your state. Most states are supported, a handful are unsupported, and two states allow crypto-only accounts without US dollar deposits or bank linking.
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According to Binance US, unsupported jurisdictions are Alaska, American Samoa, Connecticut, Georgia, Guam, Maine, Northern Mariana Islands, New York, North Carolina, North Dakota, Ohio, Oregon, Texas, U.S. Virgin Islands, Vermont, and Washington. The same page lists Kansas and Wisconsin as crypto-only states where USD services are unavailable. Florida and Hawaii appear on its supported list.
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Binance US says BAM Trading Services Inc. is a FinCEN-registered money services business holding money transmitter licenses in 32 states, and that it has completed SOC 2 Type I and Type II audits. The Binance.US homepage lists spot trading on 190+ assets and staking on 20+ proof-of-stake tokens.
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In November 2023, Binance pleaded guilty to US anti-money laundering, unlicensed money transmission, and sanctions violations, and its leadership changed as part of the deal. Coordinated settlements with the Justice Department, Treasury, and the CFTC came with penalties, forfeiture, and independent compliance monitoring.

The US Department of Justice says it credits about $1.8 billion toward the FinCEN, OFAC, and CFTC resolutions, which is why the agency figures add up to more than the $4,316,126,163 total. Per the US Department of Justice, Binance pleaded guilty to Bank Secrecy Act, unlicensed money transmitting, and IEEPA violations, and Changpeng Zhao pleaded guilty to failing to maintain an effective anti-money laundering program and resigned as CEO.
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The CFTC release lists the derivatives violations: operating an illegal digital asset derivatives exchange for US customers, acting as an unregistered futures commission merchant, and inadequate know-your-customer controls.
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The SEC civil case against Binance, and the Binance.US operator no longer exists. It was dismissed with prejudice by joint agreement, meaning it cannot be refiled. The SEC described the dismissal as a policy decision that does not signal its position on other cases.
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Per the SEC litigation release dated May 29, 2025, the Commission filed a joint stipulation to dismiss with prejudice its action against Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and Changpeng Zhao. The original June 2023 complaint had alleged unregistered exchange, broker-dealer, and clearing agency operations.
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Binance publishes a Proof of Reserves page that compares customer balances with the assets in exchange wallets, asset by asset. Users can verify their own balance was included using a Merkle tree, and a zero-knowledge proof checks the liabilities report. The page shows a reserve ratio for each covered asset.
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As of the snapshot shown on the Binance Proof of Reserves page (dated 01/09/26 00:00 UTC at Bitcoin block height 964957), eight assets are listed: BTC, ETH, USDT, BNB, SOL, USDC, XRP, and USD1. The same page shows reserve ratios of 100.16% for BTC, 100.00% for ETH, and 102.91% for USDT, and describes Merkle tree plus zk-SNARK verification.
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A reserve snapshot shows assets against customer balances at one moment. It does not cover liabilities outside customer balances, which is a limit of the method rather than a finding about Binance. Separately, Binance says its SAFU fund held crypto assets valued at about US$1 billion in BTC and USDC as of February 2026, with a commitment to rebalance to US$1 billion if the value falls below US$800 million.
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Binance.com is the global exchange run by Binance Holdings, and it does not onboard US persons. Binance.US is run by BAM Trading Services under US state licensing and federal FinCEN registration. They have separate accounts, separate terms, separate reserve reporting, and different product menus.

Settlement terms from the US Department of Justice, US Treasury, and CFTC. SEC dismissal from the SEC litigation release. Reserve figures from the Binance Proof of Reserves page and the Binance SAFU FAQ. State availability from Binance US and licensing from the Binance US trust page. Checked October 5, 2026.
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