Binance to open a separate trading platform for US

[ttcsalam]

They have taken this a good step. Actually Binance is better now. And one of the trusted exchanges. It's a good system to trade in. I think their arrangement is so beautiful. And they will be able to use more of their market.

[bitcon]

This is a very interesting news I have heard today. All this while US residents has been restricted to partake in ICOs and IEOs and even not able to trade on exchanges. This is a nice idea by Binance and I think will increase the number of people interested in crypto.

It always seemed to be very strange: they are really restricted to participate in these projects, but despite this prohibition, the USA is exactly this country, where the biggest percentage of people in involved in cryptocurrencies deals, trading or investing.

[Glutius]

Binance well done. Smart decisions lead to great success. But it seems to me that the SEC securities Commission can get to them there. It will be interesting to watch how the company led by CZ will have a conversation with them.

[diahsw]

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

Bloomberg reported that Binance would "immediately receive customers to convert digital tokens into fiat currencies", Binance representatives clarified to Cointelegraph that "Binance.com uses pure crypto-to-crypto." A local company opened in Malta opened. Binance Malta expects that it will start the fiat trade with the euro-Bitcoin (BTC) pair, this representative told Cointelegraph. Zhao told Bloomberg that Binance would also open crypto exchanges in Jersey on the Channel Islands with around 100 office staff, signing a memorandum of understanding with the authorities in Jersey.
In early June, Binance announced the establishment of a $ 1 billion cryptocurrency-based fund, seeking 20 partners with at least $ 100 million in managed assets.

[MadeinCoin]

This is a very interesting news I have heard today. All this while US residents has been restricted to partake in ICOs and IEOs and even not able to trade on exchanges. This is a nice idea by Binance and I think will increase the number of people interested in crypto.

Binance always gives the best for crypto users, therefore this exchange is the best exchange at the moment. Binance has a different concept with other exchanges, I am sure as soon as possible, the Bnb will also rise after Binance US is launched. Binance will be a trading road for US citizens to trade crypto.

[wack slacker]

I think the first one is more likely, but I don't think they will have access to hundreds. I'm gearing more towards like what Huobi did; with Huobi Global having the hundreds of cryptocurrencies, while Huobi(US) only has access to like more or less 20.

It's due to SEC of USA categorizing most of the crypto as securities and having a different set of regulations that is difficult for a crypto exchange to fulfill. Binance US would also be in full compliance with SEC and consist of few number of crypto but most probably have an option of fiat deposit and withdrawal.

They only transfer technology and the way of doing business and all the tokens listed will be subject to US regulations.  The most important thing is still the business strategy.  But with Binance's reputation I think that is the advantage.

[Xalata]

The US government has strict rules that regulate the use of cryptocurrency usage. I know a lot of bounties that require KYC reject the US citizens and do not allow them to participate. I think its a good idea to create new exchange for these citizens to enable them trade too.

[hahahafr]

Binance exchange is always spearheading great innovatives in the field of exchanges. The United States is  a large market which cannot just be taken away from crypto trading due to their laws. It's great that Binance Team have planned to create an exchange which would comply with all US laws so that citizens of US can trade on that exchange.

[setialovers]

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 reaction is very fast in anticipating laws in America. American market is one of the largest markets in the world and almost all exchanger targeting to enter American market, by opening special exchangers for Americans, and this provides binance opportunity to maintain daily transaction value