Bitcoin Forum

Crypto enthusiasts living in the United States will have no trading options for a many cryptocurrencies when the major crypto exchange Binance becomes unavailable for them in September, according to a report by CryptoPotato on June 14.

The report draws this conclusion based on the following table, which shows which cryptocurrencies will still available for U.S.-based traders after Binance discontinues its U.S. service:

The foregoing exchanges listed are Coinbase, Bittrex, Poloniex, Kraken, HuobiUS, and eToro.

The report also highlights that, in addition to the cryptocurrencies with no trading outlet in the U.S.—the all-white rows—there are also a number of tokens listed on only one exchange after Binance drops off, including ARK, BTT, IOTA, PIVX, and ZIL.

These “endangered” exchange tokens, as well as the (temporarily) extinct tokens, will likely witness a large drop in volume, according to the report.

https://cointelegraph.com/news/united-states-residents-will-lose-access-to-many-altcoins-starting-in-september

https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9jZWYzZDc4MGRlZDk1ZjE5NjFjYWQxMjNkYjRkMWRhNy5qcGc=.jpg

Yes, everything is very difficult with cryptocurrency in the United States.I just do not understand one thing: in one state (I do not remember in which) you can pay taxes with bitcoin.Also throughout the development of cryptocurrencies there was a lot of good news related to cryptocurrencies and this country.Why then the Americans will not have access to buy or sell those altcoins that they would like to use.I think it's just absurd.

True, this has been exercised before that some ICO does not accept US based investors that's why they ask for KYC. Now if this new will progress, then it will be a big blow in crypto world. Then again, let's just wait for the results of this news may it be good or bad we have to deal with it.

It's temporary IMHO. They will still operate their but following the respective rules of US. But I don't know when it will exactly to roll out. Following the other exchanges move, this means that US is implementing and becoming strict with their rules about exchanges or maybe for crypto in general.

could you explain this for IOTA, they are listed on several exchanges, not just Binance
i trade them on BitFinex, but there are several others that list them, you can check on coinmarketcap

i am not really familiar with US laws and the exchanges that Americans have access to but as far as i can tell, there is:
- Coinbase that has some altcoins and is US-based
- Bittrex which has all the big altcoins taht people care about and is a US-based exchange (located in Seattle Washington)
- Poloniex that is like Bittrex and also is US-based (located in Wilmington Carolina)

and i think they already regulated themselves and forced KYC that is why their volumes dropped drastically.
but in any case US residents will NOT lose access to any altcoin trading if they wanted to continue trading altcoins!!!

there is of course a ton of shitcoins and ICO tokens on Binance only with nearly no volume that nobody cares about. but they are insignificant.

It really doesn't make sense to me, to see government and other parties working so hard on regulating crypto in the US to which they have come a long way comparing to other countries, and on the other hand they have been banning and closing exchanges, and most of the ICO and IEO have blocked their sales for US citizens, either way if there is a will there is a way and still there is a fair amount of exchanges sites left out there for people to use, but this makes me think that they might start doing the same as the others and restricting the US.

What if they use VPN for accessing the domains from different countries will be able to trade or they will be completely isolated from accessing the exchange sites?

Why for altcoins only?

US citizens are guided and protected by laid down rules when it comes to investing in cryptocurrency. Perhaps this is happening, because that is where SEC is situated and they have been so strict with their rules.
I still feel some of them will have access to the altcoins with permission, just as they have accredited investors.
Then I believe they will not be restricted from investing in bitcoin, as the rule will be limited to altcoins.

Is this one of the other bad news to altcoin lists again? Well, however so far, Many altcoins are not allowed for US citizens and they still forbid. If they cut off again the lists and decrease the numbers, It may really give influence for the altcoin consistency. I wonder about the exact reasons of this plan and can it still be avoided?

Binance already said that there is no chance to trade in major exchanges for US customers. It will be a bad for alternative cryptocurrencies due to low volume. The prices of altcoins will decrease after few weeks in my opinion.

Im just wondering what was the real reason behind this Binance discontinuation of its trading services in the united states. I hope that it wont affect the market. But in the other side of the story there are plenty of US base exchange to choose from such as  Bittrex,Coinbase, etc. maybe well wait the development of this story soon.

Well, Nash Exchange is approved for trading in all 50 US states. You can register for the exchange with the following referral link https://nash.io/referrals?code=cLy6KC (https://nash.io/referrals?code=cLy6KC)

What is happening with cryptocurrency in America is just absurd. What are they guided by when making such decisions? Of course, decentralized exchanges remain, but this is not the solution to all problems.

Right it is bad for both the crypto users who have been using altcoin and for the crypto market for if the usage of altcoin by the crypto users in the US is halted, the spread of crypto circle would come to a low pace and there would be a bad market for the altcoin that are already struggling. But anyways, there could be other ways to compensate the price fall.