Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not currently allowed to operate in New York. The New York State Department of Financial Services (DFS) has not granted the company a BitLicense, which is required for any business that deals in cryptocurrency in the state.
The DFS has been cracking down on unlicensed cryptocurrency businesses operating in the state, and Binance has been on its radar for some time. In March 2018, the DFS sent a cease-and-desist letter to Binance’s then-partner platform, TRON, for operating in the state without a license.
Binance has been trying to work with regulators to get a license to operate in the US. In June 2018, the exchange announced that it was opening an office in San Francisco to help speed up the process of getting regulatory approval.
NOTE: This warning is to notify users that Binance is not allowed to operate in New York State. Any person or company who chooses to use Binance services in New York is subject to enforcement action by the New York State Department of Financial Services. Furthermore, any user of Binance services should be aware of the risks associated with using such a platform.
However, it’s still not clear when or if Binance will be able to obtain a license to operate in New York.
The DFS has been hesitant to approve cryptocurrency exchanges for a BitLicense because of concerns about fraud and money laundering. In 2015, the DFS granted a BitLicense to Coinbase, one of the largest and most well-known cryptocurrency exchanges.
But since then, only a handful of other exchanges have been approved for a license.
So far, Binance has not been able to convince regulators that it can comply with anti-money laundering and other requirements. Until it does so, the exchange will not be allowed to operate in New York.
6 Related Question Answers Found
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been in operation since 2017. The company’s CEO is Changpeng Zhao, who has an extensive background in trading and technology. Binance is headquartered in Malta but also has offices in Japan, Taiwan, and Hong Kong.
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 US, the American branch of the world’s largest cryptocurrency exchange, is not currently available to residents of New York. This is due to the state’s stringent licensing requirements for cryptocurrency exchanges. Binance US is a relatively new exchange, having only launched in September of 2019.
It is no secret that Binance, one of the world’s largest cryptocurrency exchanges, has been trying to establish a presence in the United States for quite some time now. However, the process has been far from smooth sailing. The company has faced a number of hurdles, the most recent of which is a lAWSuit filed by the New York Attorney General’s office.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not available to residents of New York. The reason for this is that Binance is not licensed by the New York State Department of Financial Services (NYDFS), which regulates cryptocurrency businesses in the state. Binance is headquartered in Malta, a European Union member country that has more favorable regulations for cryptocurrency businesses.
Binance is one of the most popular cryptocurrency exchanges in the world. It allows users to buy, sell, and trade a variety of digital assets, including Bitcoin, Ethereum, Litecoin, and more. Binance also offers a variety of unique features, such as margin trading, spot trading, and more.
