The US under President Donald Trump has moved on from a crypto regulatory regime marked by “a bit of oppression”, according to Richard Teng, chief executive officer of Binance Holdings Ltd.

Binance CEO Richard Teng said that the crypto ecosystem might have a fresh reset under the new Trump administration.

Binance Holdings CEO Richard Teng tells Bloomberg's Annabelle Droulers about the company's engagement with the US government as President Donald Trump resets crypto policies. He also talks about the hunt for potential new headquarters,

Binance.US said fiat services have been restored after the exchange was forced to go “crypto-only” due to the SEC’s “intimidating tactics.”

Binance.US, the American affiliate of global cryptocurrency exchange Binance, has reinstated US dollar deposits and withdrawals after nearly 18 months of restrictions. The company attributed this decision to increased regulatory clarity.

Binance.US has restored USD services, enabling deposits, withdrawals, and trading for eligible customers after a two-year halt.