Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is not available to residents of New York. The reason for this is that Binance is not licensed by the New York State Department of Financial Services (NYDFS), which regulates cryptocurrency businesses in the state.
Binance is headquartered in Malta, a European Union member country that has more favorable regulations for cryptocurrency businesses. Binance also has offices in Hong Kong, Japan, and Taiwan.
The NYDFS has been notoriously stringent in its regulation of cryptocurrency businesses. In 2015, the NYDFS issued BitLicense, a set of regulations that severely restricted the activities of cryptocurrency businesses in the state.
Only a handful of companies have been able to obtain a BitLicense.
Binance applied for a BitLicense in 2018, but was rejected. Binance then decided to stop serving customers in New York.
The NYDFS has since softened its stance on cryptocurrency regulation, but it still has not issued a BitLicense to any company since 2015. The NYDFS has said that it is still “evaluating” whether to issue BitLicenses.
Binance is not the only cryptocurrency exchange that is not available in New York. Other major exchanges such as Kraken and ShapeShift have also chosen to not serve New York customers due to the state’s stringent regulations.
NOTE: WARNING: Binance is not available to residents of New York. This is due to New York state law and regulations. Any attempts to use Binance from within the state of New York are strictly prohibited and may be subject to legal action.
The NYDFS’s BitLicense requirements are:
-A license applicant must be incorporated in New York State or have a qualified New York State-chartered bank as a subsidiary;
-A license applicant must maintain compliance with anti-money laundering lAWS and regulations;
-A license applicant must maintain capitalization levels sufficient to ensure solvency;
-A license applicant must implement policies and procedures designed to protect consumers;
-A license applicant must provide the NYDFS with information about its shareholders and owners; and
-A license applicant must submit to periodic examinations by the NYDFS.
7 Related Question Answers Found
Binance, the world’s largest cryptocurrency exchange by trading volume, is not currently available to users in New York. This is due to the fact that Binance is not licensed by the New York State Department of Financial Services (DFS), which regulates cryptocurrency exchanges in the state. Binance first launched in China in July 2017, but later relocated its headquarters to Japan following a crackdown on cryptocurrencies by the Chinese government.
It is no secret that Binance, one of the world’s largest cryptocurrency exchanges, has been trying to establish a presence in the United States for quite some time now. However, the process has been far from smooth sailing. The company has faced a number of hurdles, the most recent of which is a lAWSuit filed by the New York Attorney General’s office.
Binance, the world’s largest cryptocurrency exchange by trading volume, is not working. The website is down and users are reporting that they are unable to log in or trade. Binance has been down for over an hour now, and there is no word on when it will be back up.
There are a few reasons why your Binance account might not be working. The first reason could be that you haven’t completed the account verification process. In order to use all the features of Binance, including withdrawal and deposit, you need to go through a simple verification process.
Binance, the world’s largest cryptocurrency exchange by trading volume, is not currently accessible to users in the United States. The reason for this is unclear, but it may be due to regulatory reasons. This is unfortunate for U.S.
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.
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.
