The world’s major crypto trader Binance has recently spread the word that restrictions are to be introduced for US citizens, and they will be banned from trading on Binance.com.
Binance is banning US customers
Binance, the most aggressively expanding crypto exchange and also the one with the highest daily trading volume, is going to change its policy towards US traders. The founder, CZ, wrote that on Twitter on Thursday, warning his US customers of ‘short term pains’ and promising to turn them into ‘long term gains’.
Currently, Binance is operating in several countries, such as the UK, Singapore and Uganda. In the latter two, it has launched fiat-to-crypto platforms. Recently, Binance has also released a DEX based on its Binance Blockchain and made a migration of BNB from Ethereum to its newly created blockchain.
BNB at the moment holds position 7 on the CMC scale and is one of the most liquid crypto assets thanks to its active usage by Binance in various projects, including charity and IEOs.
CZ to come up with Binance US
As U.Today reported earlier, Binance has spread the word that it is going to launch a separate platform for US users. For this purpose, it has partnered with BAM Trading Services, an organization registered with the US FinCEN agency and linked to the Koi Compliance company. Earlier, Binance invested several million USD in the latter.
Until Binance US starts work, customers from the US will be restricted from trading on Binance itself.
US users that have Binance accounts have been given 90 days, until September 12. After that period, they will be banned from using Binance, so the American Binance community believes that by that time, Binance US should be fully operational and launched.