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Binance, the largest exchange by volume is now going to leave behind it's US based customers. Anyone verified as US citizen won't be able to trade while the IP from US would be blocked by default effective from 12th September, 2019.
Binance Dex is also blocking US IPs.

https://www.theblockcrypto.com/2019/06/14/us-customers-to-be-blocked-from-trading-on-binance-com/

But why? US, according to the chart is giving them the most traffic so far and banning them doesn't make sense to me. I know I'm lacking information so I hope someone would fill us with this topic.

Most probably because US has strict laws regarding cryptocurrency and when you get into the US money laundering or tax accusation, you're f**ked.
That's why most of ICO's and exchanges blocks them. And they are particulary not happy when foreign company deals with their citizen without their consent.
Every business are afraid of US. Wherever you stay or operate, US is going to f**k you anyway.

If Binance blocks access to US customers, where else can they trade ? As a European, I'm not familiar with American crypto exchanges. What are the most popular ?

Anyway, they can always use OKEx.

This is taken out of context. CZ has announced a year ago that he is planning to create 10 crypto exchange in total, 2 for each continent that is, which means that the US will have its own dedicated platform. It seems that Binance is geographically isolating traders, or just complying to regulations for each region they are working on. Honestly though, it's hard to work on a platform and consolidate regulatory compliance since one rule might differ from region to region and perhaps that's what CZ and the team is trying to avoid. Anyhow, I see it as an okay solution for the rampant manipulation still going on. Traders can still use other platforms for cross-region trading though, so I don't see anything wrong with this.

I understand that their "normal" exchange bans users from us caused of the strict laws.
But i don't understand why a "dex" bans users... ok but same with cryptobridge. all DEX which restrict some users cause of their ip arent real dex to me...

based on the article, it would be very unfortunate this limitation would clearly reduce Binance trading volume because traffic in the last 6 months showed the highest Binance consumer coming from US compared to other countries.
the suggestion to use a VPN to bypass the restriction will make US consumers as easy targets for criminals because there is no internet traffic security guarantee.

Is this the consequence of the US-China trade war being taken to another level or Binance just trying to avoid any legal infringements? To the extent of blocking us customers from its dex this sounds more serious than it is!

So where are people from the US expected to be trading their altcoins that are not listed on us exchanges? I know for sure coinbase can't handle this alt trading business for now.

If binance blocks the usa ips i fear it is a matter of time or more and more countries will be banned in the future with tighter and tighter crypto rulings each year.

You will be able to still access your wallet though and at the same time it's not hard changing the VPN .

Even they are planning to geo-filter and geo-ban more than 50 countries altogether.

I have no idea why they are doing this but the owner quoted saying *it's essential for the long term plans *

They get 15% of the income from US , therefore it will also take a toll on them too.

Bitcoin and crypto may be accepted in the US but they are heavily regulated and monitored and the law is very strict towards them, and anyone could be using them for tax deprivation and money laundering and or other illegal matters , most of the ICOs and IEO also have restricted their customers from the us from participating in them, and i probably think that is why the Binance exchange is also doing so, but at least they are blocking IP and peopele can still use VPN to use it.

maybe this is an option to consider:

Huobi.com now is https://www.hbg.com/en-us/markets


I believe it's just problems with the US and the restricted countries

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this was already expected to happen in the long run

Binance isn't really
Bittrex, Bitfinex, Kraken, Coinbase if they count... but it's hard to say what "most popular" means since volume isn't necessarily popularity and neither is number of registered users.

How are other exchanges still operating in the US and Binance sees no other way than blocking?
Remember that they are the liars who said everything was perfectly ok, denying rumors while making their suitcases and fleeing Japan because they couldn't meet the regulations. And of course, others could.

They are currently residing in Malta, the most lawless and less regulated country in the EU, when the government will start looking into their business they will probably head for the Bahamas.

It's pretty obvious they are doing everything they can to avoid regulations and to avoid a country where they could be prosecuted for not taking measures to secure clients funds (like Japan demanded).
If they think they can play this cat and mouse game forever they are mistaken.


As long as other exchanges are operating inside the US or allow US customers I have a feeling the problem is with Binance, not the US.

Not just Binance, all major exchange are. I think US government decided something. Something wrong.
But it can't stop who want to trade cryptocurrencies. So many DEX are working right now. They can't leave anyone out. (ALL VPN ON)

I also think that all this is connected with the tough US laws regarding cryptocurrency and obtaining permission to operate in this country and for its citizens. That is why in almost all ICO projects there is a ban on the participation of citizens of the United States. I did not go into the study of this problem, but I think that all the exchanges that are located in the United States are forced to provide reports to local authorities and are subject to strict regulation. In other countries, the attitude towards stock exchanges is more liberal.

Probably every shady business is afraid of US. We all seen a huge amount of exchange hacks that may be artificially made by the exchange stuff. So if you add different kinds of scam ICOs then the general picture would show that some kind of strict control is desperately needed in crypto field.
It seems like binance also have something to hide.

Maybe or may not be.
US is know for overusing its power on anything they find challenging to them. Look at Huawei, its just plain whining.
Binance is getting over 15% of it's volume just from the US. It's one of their largest revenue source and blocking US must be their last resort.

The US citizens can use gemini and coinbase. Both of them are located in the US.

The US has a strong dirty money/money laundering paranoia. Binance don't want to deal with endless demands coming from the authorities in the US. Many online casinos also follow the same idea.

As few users stated it would get separate trading platform for different continents. Coinbase recently mentioned its separate exchange service for Asia. In such a way US might get its separate exchange service from Binance. US having hard regulations too is a reason for such a decision of trading services getting blocked for US ip.

I think Binance just want to be careful since the regulations of the U.S are becoming more strict. But that doesn't really mean that Americans can not trade at all. Because there are still good exchanges out there that are secure and still do fast transactions. But I hope they don't continue with this because everyone's having a good experience with Binance.

Hmmmm....I hope that the trade war issue and the huawei ban does not have anything to do with Binance's decision. Because for me, it felt like it was their love for their country is the reason behind it. But man, this is still a huge loss of money on the trading volume because I only know 3 countries that has a lot of money and that is China, USA and Russia.

The United States has very strict regulations on prohibiting nationals from participating in ICO and IEO. Binance will be in big trouble if allowing citizens of the United States to join their platform. I think in the coming time the SEC will have to make clear rules about crypto and it will be easier.

I haven't read CZ's official statement regarding this but as I have seen on their Terms of Service (https://www.binance.com/agreement.html), they cannot serve/cater to customers who are residing in the US and is covered by UN Security Council sanction list:


Sure Binance operates on an essentially lawless state for crypto but how about those who they are serving and those using their platforms? No other choice but to block US residents for the mean time and just create the region's own exchange than to incur a lot of penalties and being issued a cease and desist order if someone gets caught doing something fishy on their trading platforms.

This is what I want to know. As far as I know since Binance doesn't use fiat (specifically USD) on their site and they are not based in the US then the regulatory laws in the US should not affect them.

like what happend in the poker boom when alot of sites started blocking us customers , and it affected the volume alot, this will happen again, this is not a good thing for binance watch and see they volume plummet.

US are always excluded in most ICO. I guess the law says so which is probably the reason they now block US customers. But this is it! We've considered the exchange as an authority to the crypto market now they can dictate where we can go from here. Is there DEX asking for KYC? If not then there is your solution. Must be part of the plan to add volume to the DEX.

When we expect crypto going to stable very soon but the fact is it's difficult to see it happen.

Yes, crypto have their own way for being exist in this world.
When people prefer something more risky but in other side, people also make the warning of it !

This is sort of shock to hear but not surprising I think due to bitrex doing it for 32 cryptocurrencies a little while ago
https://cointelegraph.com/news/crypto-exchange-bittrex-to-block-us-users-from-trading-in-32-cryptos

And now the other major crypto news media outlets are reporting the exact same thing. So it is official for binance to cease serving us based customer in the 4th quarter of the year.
https://www.coindesk.com/binance-exchange-to-block-crypto-trading-for-u-s-customers
https://techcrunch.com/2019/06/14/binance-begins-to-restrict-us-customers
Very bad for these customers who have used them during the years with performing their cryptocurrency exchanges on their platform.

At first I thought this was a rumour but now it’s confirmed that Binance is indeed closing it’s door for US customers, and now US customers will be able to use Binance US to use their services. This has created lots of confusion in people’s minds, but it’s been clarified they need to do this to be in compliance of US laws. If you’re from US do not worry as you’ll be able to use their services on Binance US.

Link: https://www.cryptoglobe.com/latest/2019/06/binance-u-s-to-launch-as-binance-com-bans-u-s-residents-cryptocompare-launches-new-benchmark-tool-to-rank-exchange-legitimacy/

I think binance do the right thing, because its not good for big exchanger like binance to let people from strict regulation like US to use their support, it can hit back binance or any exchanger someday if they still let that peoples

This is disconcerting news.

Thank you for bringing more clarity to the announcement, but it is still unsettling news.

apparently this news has had a good impact on the price of the BNB token, for today -9% I hope it will soon be decided for the better, many users will simply leave.

It seems like there are a lot of misunderstandings here, I also heard this information because Binance is developing for a special exchange for USA residents.
Approximately within 3 months. Just join the telegram group (https://t.me/binanceexchange (https://t.me/binanceexchange)) and search for the keyword "Binance.us"

I think binance has a special reason to prohibit US citizens from trading. we know that if the US is one of the countries with large crypto use, I hope the trading volume will not be disrupted by the ban for US countries.

The fact is that such news has long begun to spread in the media, where it was said that the administration of the binance trading exchange announced that they have the ability to block accounts and funds of their users.  But What actions will be taken only in respect of fraudsters and people who have crossed the law.  In any case, it is necessary to conduct certain proceedings, because If the account is blocked, then this is the reason for the error.  One way or another, the user must find out the reasons for blocking the account.

Thats bad news for everyone.A major platform stop supporting to large market and million of traders.That surely will impact on market.But they have the time until 12th September 2019.Its time change your platform US users.You can login some ways.But don't use those ways.There are security risks.Using 3rd is not a good idea.Your account will get robbed.

As far as I know they will create a separate Binance entity for US based customers. So they are not going to Block US customers, but will have a separate trading platform to comply with US regulators. We all know that US has been at the heal of many exchanges now and sure Binance got the message months or even years ago that's why they have to have a contingency plan. Do you think they will go and not cater US? This is business and we all know that CZ won't simply allow that. Crypto sphere is evolving, that's why everyone involves get needs to adapt and that's what Binance is doing. "Adapt or die". So don't consider this as bad news, nothing to worry about.

They will not. These government bodies thrive on uncertainties because it makes shutting down sites and services much easier. If they're clear with their rules they basically become obsolete because most businesses will follow them. Just look at how unclear the IRS (or basically any other tax agency) is with its rules. It's kept like that for a reason.

It's a shame that a country stating to be the country of freedom does everything it can to choke anything it deems a potential threat. Fuck this. Business will move elsewhere eventually. I'm so glad that I'm in Europe despite all the problems here. The banking system here works more efficiently and cheaper too.

Coinbase has done everything it needed to do the right way and pretty early on too. Thumbs up for being smart business-wise.

It's not a bad move by them if they want to make different platforms to tackle different laws. Each platform will have its own TOS and will probably share their database with local law enforcement. It's good because they won't be risking raids on their main platform when a local legislator has a problem with their local exchange.

It's safer for them.

Anyone elese expecting shitcoins to crash by a lot? A lot of people don't even know where to hodl X or Y altcoin/token since most of them rely on Binance to be the "main" wallet for their portfolio (you can still access your coins, but you won't be able to sell, so why hodl on Binance?). I believe some people will move to another exchange, but some others will definitely dump their coins because they don't trust "shady" exchanges.

The new US-friendly Binance platform will most likely not allow the same cryptos they had before so, kinda like checkmate to shitcoins since it'll be Coinbase 2.0.

Wow! Didn't know about this...Shitcoins and worthless tokens on suicide watch  ;D

What a world we live in, exchanges blocking US residents, while corporate coins (JPM coin and FB coin, both US based companies) are about to get launched  >:(

Would you want them to suffer the consequences of going against the US laws by providing services to the US residents?
The US government does not give a fuck whether it's a DEX or a centralized exchange. They will sue you.

I support Binance on this.

Binance blocking US users to use its platform for trading is a significant evemt that will surely have an impact for the US users due to the fact that most trading were from US. On the other side, Binance is planning to setup a US dedicated platform that might benefited US users. Let's wait for this update.

But why do some coins get banned while others are permitted? Don't they all count as digital currency in the eyes of the government?

IMO some are legit projects that are permitted because, well, they are legit (according to them)...The rest that are banned are either vaporware projects, pump and dump coins, or worthless shitcoins, and they raise huge red flags to the authorities. But what's triggering those red flags? You'd have to ask the US authorities and the SEC about that.

They are restricting the US users for a reason, the authorities are constantly putting pressure on them to comply with regulators and since they are not complying with them, they have to restrict the users and you will see more exchanges succumb to the pressure from the authorities and now we see in the news that bittrex also took the same stance as binance.

Why? I think it will cause a big change in the market right now. It inflicts a lot since binance is one of the popular cryptocurrency exchange in the world. Maybe, it will pull out the US investors which may compose high percentage of traders at binance. I think BNB must review this case because US customers are really needed specially they are rich people.

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Then Binance will experience a massive decline in transactions since US customers dominated the exchange. It is a pity because previously US was also blocked by 2 big exchanges. I wonder why they did that whether US people have a lot of money like Whales can control the market. The use of VPN is very risky to use money transactions and its use can only make your data leak and misuse.

Binance is more of a world bank, with a storefront that looks like a currency exchange platform...

This will surely reflect to their trading volume since US brings large amount of investments to their platform and blocking US costumers May drop their popularity

But let’s see what will happen soon.lets get ready for this Binance trader lol

The other day I noticed at Binance my account is "Unverified". Binance has an area there that asks for personal information such as: full name, date of birth, and facial info. It is not yet a requirement to give this person identifying information, but this makes me want to exit my funds out of Binance, because the entire reasoning of crypto-currency is to remain secret...

Every exchanges seems to be making a two version of themselves. One, a full fledged exchange. Another a striped down version for the primitive people of United States as they are slow in realizing the facts and are generally hostile to science and technology.

US have the most numbers who uses bitcoin or cryptocurrency. Binance blocking US customers is a gamble and surely half or more than half of binance`s costumer are from US. There will be big effect on this move.

Owing to the strictness of sec , Binance is trying to play safe and avoid having issues with sec. Blocking individuals from the united states to me is the best way to go in other to avoid litigation with sec in the future. This issue is not peculiar to binance alone as bittrex has also issued a statement blocking us citizens from 42 trading pairs. https://bittrex.zendesk.com/hc/en-us/articles/360029523891

That confuses me. Do you think Binance is on the users sides, or is Binance going the way of the government?

Binance is just doing what's in its best interest. If it carried on offering unregistered securities to US persons while dodging national securities exchange requirements -- requirements it can't possibly meet -- then enforcement actions like this (https://www.sec.gov/news/press-release/2018-218) would become increasingly likely.

The fact that Poloniex and Bittrex are both scrambling to comply with SEC requirements at the same time as Binance suggests the SEC is putting pressure on all of them to quickly make these changes.

been more or less expecting this.

i pulled everything from binance today (not much) and will join the us version when its up and running.

im not really a trader (well i do a very few trades) so its no big deal but for those usa persons that do.. sucks man.

This news has had an effect on the general crypto market.  As many US investors are now selling out their altcoin and converting it to bitcoin. Bitcoin is increasing while all other altcoin are down

Since many governments are involved in the same organizations to combat fraud and terrorism, any sources of funding for criminal groups will be identified and destroyed.  Since the cryptocurrency market is still in the shadows and users of the cryptocurrency are largely anonymous, then of course any Government is annoying.  Based on this, all governments will work in the direction not only to legalize cryptocurrency, but also to make this business open and controlled.

Do you think that the switch to a new version (for the USA) will increase the odds for hackers tampering with users funds?

Is there an exact date yet for when Binance plans to perform the switcheroo?



Is that just your assumption or is there any solid news to back your claim up?

Lol, the rest of the altcoins are also going up today, so I think it's not speculation on his side. I might as well wait for the US version, but so far the news has no effect whatsoever, so I guess that when they release it, it might bring some good news and who knows, maybe we can see a boom and lots of newbie traders will flock into the Binance US version.

I don't think they would like cryptocurrency legalized but since they can't really make it illegal then I would say they try to make it open and controlled as an alternative.