Binance, the world’s largest cryptocurrency exchange by trading volume, is now allowing New Yorkers to buy and sell digital assets on its platform. The move comes after the exchange spent the past six months “working closely” with the New York State Department of Financial Services (DFS) to obtain a BitLicense.
Binance.US, the American arm of Binance, first launched in September 2019 with support for only a handful of states.
The exchange has since expanded its operations, but until now, New York was not one of the supported states.
Now, however, Binance has received a BitLicense from the DFS, allowing it to offer its services to residents of New York. The license was granted on January 10 and published on the DFS website today.
With the addition of New York, Binance.US now supports trading in 43 states and Washington D.
C. The only states where the exchange is not yet operational are Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, North Carolina, Texas, and Vermont.
NOTE: WARNING: Investing in cryptocurrency is risky, and there are no guarantees that you will make a profit. Before investing, it is important to research the risks associated with cryptocurrencies, as well as any regulatory requirements in your jurisdiction. Additionally, Binance Coin (BNB) is not currently available in New York due to the fact that it is not yet considered a security. Therefore, it is illegal to purchase or trade BNB in New York. If you choose to purchase or trade BNB from another jurisdiction, be sure to research any applicable regulations before doing so.
The news comes just days after Binance announced that it would be adding support for buying and selling cryptocurrencies with fiat currencies on its main platform. The feature is currently live in beta for a select group of users but is expected to be rolled out to all users in the coming weeks.
In order to trade on Binance.com with fiat currencies, users will need to go through a “know-your-customer” (KYC) verification process.
It is not yet clear if this will also be required for users who want to trade on Binance.US with fiat currency pairs.
Binance Coin (BNB) is the native cryptocurrency of the Binance platform and can be used to pay fees on the exchange. BNB can also be traded on Binance against other cryptocurrencies and used to purchase goods and services through the Binance ecosystem.
To get started buying BNB on Binance.US, you will first need to create an account and undergo KYC verification.
Once your account is verified, you can deposit USD into your account and use it to purchase BNB or any other supported cryptocurrency on the platform.
8 Related Question Answers Found
Binance, one of the world’s largest cryptocurrency exchanges, has been inaccessible to New Yorkers since July 14th, 2019. The reason for this is that Binance is not registered with the New York State Department of Financial Services (NYSDFS), which regulates cryptocurrency businesses in the state. This may come as a surprise to many, as Binance is available in most other US states.
Binance is a cryptocurrency exchange that allows you to trade in a variety of cryptocurrencies. You can use Binance in NY if you are a resident of New York state. If you are a New Yorker, you can use Binance to buy and sell cryptocurrencies.
Binance is a popular cryptocurrency exchange that allows users to trade a variety of digital assets. The platform is available in many countries around the world, but is Binance available in NY? The simple answer is no, Binance is not currently available in New York.
If you want to get a Binance in New York, you will need to first create an account on the Binance website. Once you have done this, you will need to deposit some funds into your account. You can do this by transferring funds from your bank account or by using a credit card.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been a vocal opponent of New York’s BitLicense. The company has even gone so far as to stop serving New York customers entirely. But that may soon change.
Binance is a cryptocurrency exchange that allows for the trading of digital assets. Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not currently available to users in New York. The exchange has been banned in the state since April 2019, when the New York State Attorney General’s office filed an injunction against the exchange. The injunction was filed on the grounds that Binance was operating in New York without obtaining the proper licenses from the state.
Binance, the world’s largest cryptocurrency exchange by trading volume, is not currently available to users in New York. This is due to the fact that Binance is not registered with the New York State Department of Financial Services (NYDFS), which regulates cryptocurrency businesses in the state. However, this may soon change.
