Binance US, the US-based arm of cryptocurrency exchange Binance, is now live. The platform will allow users to trade cryptocurrencies that are compliant with US regulations.
This means that not all cryptocurrencies will be available to trade on Binance US. So, which states can use Binance US?.
Binance US is available in most states across the country. However, there are a few exceptions.
Residents of Alabama, Connecticut, Florida, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas and Washington are not currently able to use the platform.
This is due to regulatory restrictions in those states. For example, New York has strict rules around cryptocurrency exchanges that require them to obtain a BitLicense before operating in the state.
Binance has not yet applied for a BitLicense, so it cannot offer its services to residents of New York.
Similarly, Washington has a law that prohibits cryptocurrency exchanges from operating in the state unless they are registered with the Department of Financial Institutions. Binance US is not currently registered with the Department of Financial Institutions, so it cannot offer its services to residents of Washington.
Residents of the remaining states are able to use Binance US. The platform offers a variety of features that make it an attractive option for cryptocurrency traders.
For example, it has low fees, a wide range of supported cryptocurrencies and a user-friendly interface.
Despite being restricted in some states, Binance US is still one of the best options for cryptocurrency traders in the United States. It offers a variety of features that make it an attractive option for cryptocurrency traders.