Binance.US has introduced an ultra-low fee structure across all spot trading pairs, stepping up price competition in the U.S. cryptocurrency exchange market.

Cointelegraph reported on April 22 that Binance.US immediately implemented a new fee policy that applies a 0 percent maker fee and a 0.02 percent taker fee. It scrapped the existing volume-tiered fee structure. All users will be charged the same fees with no additional conditions.

The revamp sharply lowers trading costs. Binance.US said the new fee system can cut fees by up to 98 percent versus competitors. It also expands a zero-fee policy previously limited to some bitcoin trading pairs to the entire spot market.

Fees at major U.S. exchanges cited for comparison are higher. Coinbase starts at about 0.4 to 0.6 percent for low-volume users. Kraken also operates a structure in which fees decline with volume, starting at about 0.25 to 0.4 percent.

The move is part of a strategic shift after a management change. Binance.US said it overhauled its fee structure after appointing CEO Steven Gregory (스티븐 그레고리) and built a sustainable low-cost structure based on its trading infrastructure. It added that it completed a SOC 2 Type II audit of its systems and overall internal controls.

Competition in the United States is also changing quickly. Charles Schwab recently said it plans to launch spot bitcoin and ether trading for retail clients in the coming weeks, offering fees of about 75 basis points per trade. As traditional financial firms join the competition, fee competition in the United States is expected to intensify.

Binance's U.S. business, however, still faces regulatory risks separate from fee competition. Parent company Binance reached a $4.3 billion settlement with U.S. authorities in 2023 over anti-money laundering and sanctions violations, and former CEO Changpeng Zhao (CZ) (창펑 자오) pleaded guilty to related charges. The company has since been meeting ongoing regulatory reporting obligations under court supervision.

Political pressure continues. U.S. senators earlier this year called for a review of Binance's overall compliance controls, and allegations were raised that some transactions were linked to sanctioned entities. The company has denied related reports and has moved to take legal action.

Binance has also been expanding services, including integrating a prediction market function into its app. It has also introduced a BNB Smart Chain-based gasless trading structure to improve user convenience. The market is watching whether the broad fee cut will lead to a strategy to expand Binance.US's share of U.S. spot trading.