Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is closing its doors to US customers. The move comes as the company prepares to launch a US-based exchange later this year.
In a blog post on Tuesday, Binance said it will “block IP addresses accessing Binance.com from the United States” starting on September 12. The exchange will also “stop serving U.S.
customers through binance.com,” though it will still serve American users through its US-based exchange, Binance US.
The decision to block US customers is in line with Binance’s strict policies regarding compliance with lAWS and regulations. The company has long been one of the most vocal opponents of know-your-customer (KYC) and anti-money laundering (AML) regulations, which require exchanges to collect identifying information from their users.
Binance CEO Changpeng Zhao has said that such regulations are “not really compatible” with the company’s philosophy of providing “freedom of money.” The exchange has also been accused of being lax on KYC/AML in the past, though it has denied these allegations.
NOTE: WARNING: Binance has recently announced that it will be closing its services to US customers. This means that US customers will no longer be able to access the Binance website or use any of its services. All existing accounts belonging to US customers will be closed and any funds deposited in these accounts will be returned. Therefore, if you are a US customer, please take immediate steps to withdraw your funds from Binance before it is too late.
The US is not the only country where Binance has faced regulatory hurdles. The company was forced to shut down its operations in China in 2017 after the Chinese government cracked down on cryptocurrency exchanges.
Binance then relocated its headquarters to Malta, where it has since been working to obtain a banking license.
Binance’s decision to block US customers comes as the company is preparing to launch a US-based exchange later this year. The exchange, which is currently in beta testing, will be compliant with all applicable lAWS and regulations, including KYC/AML requirements.
The launch of the US-based exchange is part of Binance’s larger strategy to expand its global footprint and become the “Amazon of crypto.” The company has already launched exchanges in Singapore, Uganda, and Jersey, and is planning to launch more in the coming months.
Binance’s decision to block US customers is a setback for the cryptocurrency industry, which has been working to gain mainstream adoption in the US. However, it is likely that other exchanges will step up to fill the void left by Binance, and the company’s US-based exchange will still serve American users when it launches later this year.
9 Related Question Answers Found
Binance, the world’s largest cryptocurrency exchange by trading volume, is shutting down its US operations. The move comes after the US Securities and Exchange Commission (SEC) filed a lAWSuit against the company for allegedly violating securities lAWS. Binance has been operating in the US since 2019, but it has always been done through a third-party entity.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not currently banned in the United States. The US-based crypto exchange launched in September 2017 and has quickly become a leading player in the space. Binance is registered with FinCEN and complies with KYC/AML regulations.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not currently accessible to users in the United States. The popular digital asset platform has been effectively banned in the U. S.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is no longer allowing U.S. customers to trade on its platform. Binance made the announcement on Friday, stating that it would “block IP addresses accessing the Exchange from within the United States of America starting 09:00 PM (UTC) on 09/14/2019.”.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not currently accessible to users in the United States. The popular platform has been “geo-blocked” for American users since July of 2019, when Binance announced its plan to set up a US-based entity called “Binance US.”
The move came after increased regulatory scrutiny from the US government, as well as pressure from traditional financial institutions. Binance US is still in development, and it’s unclear when or if it will ever launch.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is still banned in the United States. The US-based exchange was founded in 2017 and quickly rose to prominence due to its low fees, wide range of altcoins, and its innovative features. However, Binance has never been able to obtain a license to operate in the US and has therefore been banned from operating in the country.
Binance, one of the world’s largest cryptocurrency exchanges, is reportedly planning to block U.S. customers from using its platform. The move would come as part of a wider plan to comply with regulations from multiple jurisdictions, including the U.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is apparently getting rid of its U.S. customers. The change was announced in a blog post on Binance’s website on Friday, which said that the exchange would be “complying with local regulations and requests from regulatory authorities” by “geofencing” its platform.
The United States has not banned Binance, but the exchange is not currently available to U.S. customers. Binance has been working on a U.
-based exchange, but it is not yet operational.
