Binance US, the American arm of the world’s largest cryptocurrency exchange by trading volume, does not currently work in Texas. The reason for this is unclear, but it may have something to do with the state’s stringent money transmitter lAWS.
Binance US is a digital asset exchange launched in 2019 and operated by Binance Holdings Ltd., the parent company of the world’s largest cryptocurrency exchange by trading volume.
The exchange offers trading in a variety of digital assets, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH), among others.
While Binance US does not currently offer service to residents of Texas, it is available in most other states in the US. The reason for this exclusion is unclear, but it may have something to do with the state’s stringent money transmitter lAWS.
NOTE: WARNING: Binance US does not operate in the state of Texas. Residents of Texas should not attempt to use Binance US services or products as these are not available to them. Any attempts to utilize these may result in account suspension and/or legal action.
Texas has some of the most restrictive money transmitter lAWS in the country. These lAWS require companies that transmit money to obtain a money transmitter license from the state.
The requirements for obtaining such a license are quite onerous, and include things like posting a surety bond, maintaining certain reserves, and obeying numerous reporting requirements.
It is possible that Binance US has chosen not to obtain a money transmitter license in Texas because it would simply be too costly and burdensome to do so. Alternatively, it is also possible that the company has attempted to obtain a license but has been unsuccessful.
Whatever the case may be, residents of Texas currently cannot use Binance US to buy or sell digital assets. This may change in the future, but for now, Texans will have to look elsewhere for their cryptocurrency needs.
7 Related Question Answers Found
Binance US, the American arm of the world’s largest cryptocurrency exchange by trading volume, is not currently operational in the state of Texas. The reason for this is two-fold. First and foremost, the company has not yet obtained a Money Transmitter License (MTL) from the state of Texas.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not currently available to customers in Texas. While the reasons for this are not entirely clear, it may have something to do with the state’s stringent regulations surrounding money transmission businesses. In order to operate in Texas, money transmission businesses must obtain a license from the state’s banking regulator, the Texas Department of Banking.
Binance, the world’s largest cryptocurrency exchange by trading volume, does not currently allow its users from the United States to trade on its platform. This is because Binance is not regulated by the US Securities and Exchange Commission (SEC). However, this may change in the future as Binance has recently announced that it is exploring the possibility of opening a US-based exchange.
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, 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.
It’s been a tough few weeks for US-based crypto investors. First, Coinbase Pro announced that it would be delisting a number of assets, including XRP, which was promptly followed by an announcement from Binance US that it would be doing the same. This has left many wondering why US Binance is not working.
Binance, the world’s largest cryptocurrency exchange by trading volume, is not allowed in the United States. The reason for this is because Binance is not registered with the US Securities and Exchange Commission (SEC), and therefore is not subject to US lAWS and regulations. This lack of regulation means that Binance is not required to follow the same KYC (know your customer) and AML (anti-money laundering) guidelines as US exchanges.
