Binance to open a separate trading platform for US

[omone1]

I like the move, we don't want to see the US financial compliance department destroy binance. Instead, binance should have US friendly and compliance exchange in the States soil. Wise step by CZ again. 

[mk4]

...  Wise step by CZ again.  

I mean, that's pretty much CZ's only possible move as far as I know if he wants to continue to serve their users from the US. It's either they create a separate Binance version for the US(just like some other exchanges did), or they'd just completely stop accepting US customers.

[MIner1448]

I knew that they would find a way to solve this situation, once again I am convinced that binance proves its status as "TOP".I hope this will happen quickly and will not affect the interests of users.

[xWolfx]

That seems like a pretty interesting idea, we'll see what comes out of it and how it works.

Probably the same thing with separate compliance rulings(Terms of service and privacy policy). So the ones who prefer it are being really lucky then.

I personally didn't find it too appealing before, let's see how their other platform is.

[Eraldo Coil]

I think this should be a good news for the United States since they are still going to be able to use Binance services. Even though they can still use other trading platforms, I think Binance is still the best trading platform you can ever use right now. But I think due to the strict regulations of their government, their will be limitations that will be implemented.

[kryptqnick]

The news about Binance blocking US residents was shocking. But you can't blame them as US has strict laws about Cryptocurrency and transfer of money.
But they are not going to leave anyone behind, they are going to establish a separate trading platform that would work accordance to all US laws for providing service to all US residents. The platform would probably be called Binance US.
More of it https://cointelegraph.com/news/binance-to-open-us-based-division-with-fincen-approved-partner/amp

Binance continues to build up a very good reputation. It was only recently when the exchange lost 40 million dollars worth of money. And yet they decided to cover the losses of their users in full amount. And now that there are issues with additional requirements for US residents, they are making sure that everyone is able to use the exchange nevertheless. I hope they succeed in following the requirements and keep up with great actions like these. This way binance stands out among other popular exchanges. It's beneficial both for users and for the exchange.

[Payme21]

A cheering news at last for the citizens who loves crypto. I look forward to the time where all these will end and the populace would be free to transact anywhere anytime

[squatter]

Before this article came out, I've read from a different discussion that it's likely that they will do this. Creating separate domain and website just for the US market. CZ is smart and he won't just leave a huge market just like that without any alternative solution.

If the US platform is anything like their Jersey platform, it'll be a total flop. US traders use Binance for the abundance of markets and lack of KYC. If the US site doesn't offer those things, nobody will use it.

People think this is just bad news for US traders, but it's also bad news for token markets. With US traders being increasingly fenced off from token markets, there will be less demand and liquidity for tokens. Maybe ICOs, IEOs and STOs will therefore take a back seat and the market will return to the good old days of pumping altcoins.

[Naginiya]

I think they will.I don't think Binance wants to loss such a huge market like US.Million of customers,Millions of money they want to loss no.I think they already preparing for the launch some similar platform under the federal law of US.If they follow the rules government wanted they do not need to need against it.

[MonsterV]

The news about Binance blocking US residents was shocking. But you can't blame them as US has strict laws about Cryptocurrency and transfer of money.
But they are not going to leave anyone behind, they are going to establish a separate trading platform that would work accordance to all US laws for providing service to all US residents. The platform would probably be called Binance US.
More of it https://cointelegraph.com/news/binance-to-open-us-based-division-with-fincen-approved-partner/amp

Yes indeed the US is a country that is quite strict in regulating taxation and business affairs. But I am quite happy because binance has a way out of regulations issued by the US, although binance will be a national scale exchange but I don't think it will lose to the main binance. But my question is, will the volume be accumulated later with binance.com?

[carrigan]

So sad actually to see this news because the US become one of the most citizens that much influence the market. However, I also think the US really has a very strict rule and regulation for the crypto world. And the plan to make a different market for US citizens, I think it will give impacts on the general market. Hopefully, it still provides the advantages for the market enough

[Gabteb]

So that was the reason that blocked USA citizens from trading seems Binance want to be the biggest exchange in the world which has its local exchanges for every region the CEO of the exchange really has a strategy and do it great as a business.

[denzkilim]

Changpeng Zhao said it's going to be a fiat-crypto exchange. It'll probably be more like Binance.je than Binance.com, but hopefully I'm wrong and there will still be lots of available markets for US traders.

Yeap, this is definitely most likely. Unfortunately for the Americans, it looks like the coins/tokens that would be able to trade will be very limited. Binance Jersey is pretty much only limited to BTC/ETH/BNB/FIAT pairs. The US version is most likely to be the same.

I guess Binance did the ban because of the strict laws of the US, Yes its unfortunate for them that they will get only a limited trading pair and will miss some big opportunities on trading in the Binance platform but it is better than nothing right? I do hope that the US government will be lighter on the rules and regulations about Crypto Currencies in the future so everyone will get the opportunity to trade with fewer restrictions.

[Julunguul]

The news about Binance blocking US residents was shocking. But you can't blame them as US has strict laws about Cryptocurrency and transfer of money.
But they are not going to leave anyone behind, they are going to establish a separate trading platform that would work accordance to all US laws for providing service to all US residents. The platform would probably be called Binance US.
More of it https://cointelegraph.com/news/binance-to-open-us-based-division-with-fincen-approved-partner/amp

On the one hand, this might be one of the effects brought about because of the trade war between the US and China so CZ also participated in giving a special place for users from the US or maybe the Chinese government who gave CZ advice like this.
However, the impact Binance got was not too strong especially to bring down the BNB

[Searing]

I like the move, we don't want to see the US financial compliance department destroy binance. Instead, binance should have US friendly and compliance exchange in the States soil. Wise step by CZ again.  

Even if such exists in the USA, likely, IMHO it would still not allow 'Tokens' like LISK to be traded. Why bother, at that point a year or so down the road by the time

this exchange exists in the USA. Such token issues would already be resolved or still banned. Binance, IMHO would still have to be 'completely' disconnected from its

the overseas counterpart for this to work, just no way, IMHO, you can have an unregulated foreign exchange still have connections with a KYC fully vested USA exchange of the same

name etc. That just is NOT gonna fly in any manner, IMHO.

[rodel caling]

The news about Binance blocking US residents was shocking. But you can't blame them as US has strict laws about Cryptocurrency and transfer of money.
But they are not going to leave anyone behind, they are going to establish a separate trading platform that would work accordance to all US laws for providing service to all US residents. The platform would probably be called Binance US.
More of it https://cointelegraph.com/news/binance-to-open-us-based-division-with-fincen-approved-partner/amp

Great this pretty brilliant idea from the binance company trading exclusively separate platform for US citizen using crypto currency.
Good luck to US crypto ethusiasm and for binance hoping this moves can give possible big impact to the crypto community.

   

[tsaroz]

This would start a trend of global exchanges creating local versions to accept fiat and bank transfers along with crypto exchanges that comply with the local laws.
It would be going to be another coinbase for US citizens. But for a real crypto exchange, they require to look elsewhere, and here is where decentralized exchange comes to spotlight. One's that does not require user to verify anything as they'd just be facilitating user to user trade.

[figmentofmyass]

i don't think they can take that much of the market share if they open up a new "fiat" based bitcoin exchange targeting US only while there is a much bigger and better exchange called Coinbase exists which has most of the market in its control.

here's my guess. they are aiming for the bittrex model, not the coinbase model: create a modest fiat gateway service that reinforces liquidity on the exchange, then focus on hundreds of altcoin markets. unlike coinbase, that's their bread and butter.

it may be an unpopular opinion, but i believe binance's USA site will still have a huge number of listed altcoin/token markets. perhaps several dozen less than binance.com but i don't think it will be the barren wasteland everyone expects it to be.

compare bittrex to bittrex international. that's the comparison to make, not binance.je to binance.com.

[stompix]

If the US platform is anything like their Jersey platform, it'll be a total flop. US traders use Binance for the abundance of markets and lack of KYC. If the US site doesn't offer those things, nobody will use it.

People think this is just bad news for US traders, but it's also bad news for token markets. With US traders being increasingly fenced off from token markets, there will be less demand and liquidity for tokens. Maybe ICOs, IEOs and STOs will therefore take a back seat and the market will return to the good old days of pumping altcoins.

I don't think that they even dream of creating the .us platform without KYC.
It will be like asking from the first second to get in trouble.
As for tokens, bad news for them is good news for the markets, those shitcoins need to be isolated and I would be happy if the only place they are allowed to be traded is some sinking atoll in the Pacific.

Binance was great as it was a wild west, no kyc, full of pump and dumps, every shitty token you could ever dream, once they start cleaning and meeting requirements they will turn to a desert.

[Lily_Olive]

I think this is good news for the people in America, I already saw people who wanted to move to Europe because of the strict rules for ico's and now Binance to.
I don't understand why they are so strict in the first place maybe they should handle their real problems first, like the gun laws, innocent people getting killed with guns probably every day, and the huge gap in income, their always increasing debt (still spending the most out of all countries on the military)

And now they cant even trade on Binance anymore,(Free Country Btw) for some people their Money is actually stuck on there and it will take some time to get it off Binance.
I imagine it's not a fun time for them!   

Yeah definatly  this is a good news for all American  citizens.. this increase the future of bitcoin..