The largest cryptocurrency exchange Binance has declared that it will discontinue assisting US customers and corporate clients on Binance.com.
According to the company’s Terms of Use, Binance is incapable to give services to any U.S. person. Users who are not in compliance with Binance’s Terms of Use by September 12 will have access to their wallets and stocks, but will no longer be authorized to exchange or deposit on Binance.com.
Only yesterday it was announced that Binance in the US will launch its own crypto exchange, Binance.US. The company will then compete with crypto exchanges such as Poloniex, Kraken or Coinbase. It is not yet known when the US branch will start operating.
From a Twitter post, it says that the control is tightened to meet the strict rules in the US.
The Binance CEO, Changpeng Zhao, also tweeted that you have to accept short-term pain in order to achieve long-term success.
Alex Krüger, a well-known trader on the scene, believes that around 25-30% of US citizens will move from binance.com to binance.us, which could reduce demand for the BNB coin. Today, the BNB coin has fallen by 6%.
Just a few days ago, Binance had listed Fantom (FTM), a DAG-based smart contract platform. The exchange will start trading for FTM/BNB, FTM/BTC, FTM/USDT, FTM/TUSD, FTM/USDC and FTM/PAX trading pairs at 2019/06/11 4:00 AM (UTC). People can now commence saving FTM in the compound for trading.
In the month of April 2019, Binance delisted Bitcoin SV. The reason behind this decision was the Bitcoin SV no longer satisfy the rules outlined by Binance. The exchange announced that the step was a part of its reviews of the digital assets it selects to list and whether they meet particular standards implemented by the company.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
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