Binance, Exchanges

Is It Legal to Use Binance in the US?

It is currently legal to use Binance in the United States. The company is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business.

FinCEN is a bureau of the US Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes.

Binance is also registered with the US Securities and Exchange Commission (SEC) as a broker-dealer. The SEC is a federal agency that regulates the securities industry, including stock exchanges, broker-dealers, investment advisers, and mutual funds.

NOTE: This is a general warning note to users in the United States regarding the use of Binance. While it is not illegal to use Binance in the US, it is important to be aware that the digital asset trading platform does not have a license from the US Securities and Exchange Commission or other US financial regulators. As such, users should be cautious about transacting on Binance and should always ensure that they are abiding by all applicable laws. Additionally, users should be aware that there may be additional risks associated with using Binance in the US, including potential fees and taxes. Users are advised to seek independent professional legal advice before engaging in any form of digital asset trading on Binance.

Binance is required to comply with certain regulations, including those designed to protect investors and prevent fraud.

Despite being registered with these two US regulatory agencies, Binance is not currently licensed to operate in any US state. However, the company has plans to launch a licensed exchange in the US sometime in 2019.

Until then, US users can still trade on Binance’s international exchange.

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