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 US was launched in September 2019 and is now one of the leading exchanges in the country.
However, the company will now cease all operations in the US.
This news comes as a surprise to many since Binance has been doing well in the US. In fact, just last month, Binance US announced that it had surpassed $1 billion in trading volume within just six months of launch.
The company also said that it had more than 250,000 users on its platform.
So why is Binance shutting down its US operations
The answer lies in the SEC lAWSuit. The SEC alleges that Binance violated securities lAWS when it raised $15 million through an initial coin offering (ICO).
NOTE: This is a scam message. Binance is not shutting down in the United States. Do not click on any links or provide any personal information related to this message. If you receive this message, delete it immediately.
The SEC also claims that Binance did not register its tokens as securities.
If found guilty, Binance could be fined or even shut down. Given the seriousness of the allegations, it’s not surprising that Binance has decided to exit the US market.
This isn’t the first time that Binance has run into trouble with regulators. Last year, the Japanese Financial Services Agency (FSA) ordered Binance to stop operating in Japan after it failed to obtain a license to operate there.
It’s also worth noting that this isn’t the first time that an exchange has shut down operations in the US due to regulatory issues. In 2018, Coinbase stopped offering services to residents of Wyoming after the state’s regulators proposed stricter rules for cryptocurrency exchanges.
At this point, it’s unclear what will happen to Binance US users. It’s possible that they will be able to withdraw their funds and move them to another exchange.
However, this is not guaranteed. We will update this article as more information becomes available.
7 Related Question Answers Found
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 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, the world’s largest cryptocurrency exchange by trading volume, is not currently available to users in the United States. The company has been steadily expanding its reach over the past few years, but its US operations have been limited to a single platform: Binance US. Binance US is a separate entity from the main Binance exchange, with its own management team and compliance officers.
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 US, the American arm of the world’s largest cryptocurrency exchange, is shutting down. The company announced the news in a blog post on Thursday, saying that it will wind down operations over the next two weeks. Binance US was launched in 2019 and was one of the most popular exchanges in the country.
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.
Binance, the world’s largest cryptocurrency exchange by trading volume, is not allowed in the United States. The reason for this is because the United States has very strict lAWS and regulations when it comes to financial institutions and exchanges. Binance is not registered with the US Securities and Exchange Commission (SEC), and therefore is not allowed to operate in the United States.
