Binance legally registered at U.S, does Bitcoin will get increase?

[Vishnu.Reang]

OK... so this is the reason why the altcoins went up by so much today. Now the American users can use Binance to purchase or sell their altcoins. Many of the coins (such as Ethereum, Litecoin and Ripple) have gone up by upto 15% during the past 24 hours. Bitcoin dominance has also come down from 71.7% to 68.2%, which represents a decline of 3.5% in one week.

[bitbenzhong]

i don't think so,Because this news does not mention anything about the deposit of usd, I don’t think this is good news, just the strategic layout of Binance.

[squatter]

The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.

I doubt their activities warranted money transmitter licenses, but they've been skirting their obligations under the federal Bank Secrecy Act and should have registered with FinCEN as a money services business.

My suspicion is that FinCEN's May 2019 guidance -- which suggested Binance was operating as an unregistered MSB -- is the reason they left the US market. The guidance destroyed any ambiguity about Binance's obligations, which offered them the chance to go "Oops, we didn't know!" and rectify the problem by leaving the market. To support this narrative, they immediately registered a new entity with FinCEN.

Binance was playing dumb. We'll see if it works out for them.

[drumamat]

at least we can expect more investors which would help make price of bitcoin better

Initially and today in the USA there are a lot of investors.The binance will definitely benefit from this, but against this background, the price of bitcoin is unlikely to somehow change.

[Duzter]

USA hasn't made any ban against cryptocurrency usage, here it is same as other countries. For some reason they haven't given access for the trading of different cryptocurrencies. Recently Binance has been developing a separate platform for the USA people. Maybe this seems to be the reason for Op to make a relation between the legality and increase in the usage of bitcoin.

[Finestream]

There is no special effect on this but Binance can retain its client.

Also, with the exchange that will cater US citizen, they will only be able to trade a limited number of coins, unlike in Binance where there are a lot of coins with great volume to trade. Maybe due to restrictions or the follow in the US, so they have to adopt with it, just like coinbase where there's only few and limited number of coins listed in the exchange but it's good that Binance were able to cater the US clients instead of losing them.

[Google+]

I think that even though binance exchange places have such legality it will not be able to influence the price movement of bitcoin, which will influence the price movement of bitcoin when there is halving of bitcoin or the legality of using bitcoin in all countries so it will make bitcoin prices go up because bitcoin will be increasingly hard to get.

[imstillthebest]

I think that even though binance exchange places have such legality it will not be able to influence the price movement of bitcoin,

no . binance dont exchange places or migrate to other country but they only support countries that they restrict before.  events like this can really impact the price because u.s citizens are probably going to try and trade on binance more oftently knowing the fact that binance is a five star exchange .

which will influence the price movement of bitcoin when there is halving of bitcoin or the legality of using bitcoin in all countries so it will make bitcoin prices go up because bitcoin will be increasingly hard to get.

hard to get ? why ?  if its legalize then why it will be harder to get?  for the miners maybe , because the mining competition can grow and can become tough to mine a coin but the existing mined btc are still circulating internationally and can be easily obtainable in many sources

[The Cryptologist]

I am very sure it does. Binance is still the most popular and undisputed top exchange for traders especially from the Asian market. US citizens are just like Chinese who loves bitcoin ans wants to own one. Even in the recent conducted surveys, it shows that the majority of their millenials want to buy btc for their future investment. This will surely play as one of the huge factors for the incoming real bullrun for new ath.

[fullhdpixel]

I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

First thing that this news will do is to first alleviate the fear that people has had about the United states fighting cryptocurrency, at least they know now that all those rumor that the United states has been fighting cryptocurrency or that trump would be cryptocurrency is a lie.

This may actually have a very big impact on cryptocurrency market because people would be able to legally carry out their trades in bitcoin now through binance platform, most especially the UNITED STATE citizens and you know that trade usually create lots of demand for bitcoin also because they would want to buy bitcoin to start trading. It is really great news to me, and i think that we have some exchanges that will really feel threatened about this because this will only give binance more hype for their exchange.

[Vishnu.Reang]

I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

That's good news. Binance is one of the most popular crypto-exchanges, and in the US there is a huge number of people interested in cryptocurrency. I think, ultimately, it will have a positive impact on the price of Bitcoin and other cryptocurrencies.

Binance is mostly being used for altcoin trading. Only about 30% of the trade volume comes from BTC vs USD or BTC vs USDT trading. The remainder is mostly composed of altcoin vs BTC or altcoin vs USD/USDT trade. Binance exchange supports more than 500 different coins in its platform, so when compared to the other exchanges the altcoin volume is higher for them.

[dothebeats]

I don't think there'd be any difference at all knowing that Binance only got their license and they were forced to move from the US temporarily because they don't have the necessary license to operate in the American soil. Also, Binance is more on the altcoin side of things and not really bitcoin, although they also have bitcoin but not really that much substantial on the market compared to the big names in exchanges.

The US never banned crypto, too, and it will be too far-fetched for it to happen knowing that they are already benefiting from the cryptosphere and industries built around it.

[Lanatsa]

I don't think there'd be any difference at all knowing that Binance only got their license and they were forced to move from the US temporarily because they don't have the necessary license to operate in the American soil. Also, Binance is more on the altcoin side of things and not really bitcoin, although they also have bitcoin but not really that much substantial on the market compared to the big names in exchanges.

The US never banned crypto, too, and it will be too far-fetched for it to happen knowing that they are already benefiting from the cryptosphere and industries built around it.

This is what I'm seeing too which I cant see a connection how this licensed obtain can really affect bitcoins price as you said Binance is on altcoin side.
On the other hand or topic, Binance do really know on how to play the game where they do maintain up their reputation or position on the entire exchange market
in spite of that US prohibition and they do able to comeback but as been said earlier this doesn't give out significant impact on Bitcoins demand.
Sooner or later lots of big exchangers would really definitely need to comply on getting licenses for a particular country.

[MonsterV]

This is what I'm seeing too which I cant see a connection how this licensed obtain can really affect bitcoins price as you said Binance is on altcoin side.
On the other hand or topic, Binance do really know on how to play the game where they do maintain up their reputation or position on the entire exchange market
in spite of that US prohibition and they do able to comeback but as been said earlier this doesn't give out significant impact on Bitcoins demand.
Sooner or later lots of big exchangers would really definitely need to comply on getting licenses for a particular country.

Well, I understand that binance is not on side of bitcoin, but it makes name bitcoin as a ship to carry BNB to continue to grow. And if you think that US Binance doesn't have an impact on bitcoin, it's wrong because bitcoin will be worse if Binance doesn't exist in US.

As we all know that US has a large population of crypto holders so if we lose some of them it might bring bad wind to bitcoin. And from my understanding why US gives license to binance, yeah because binance obeys all policies made in US because US always sees everything as business, they don't want to lose this profitable business.

[shoreno]

as you said Binance is on altcoin side.

Well, I understand that binance is not on side of bitcoin

how do you guys think of that ?  binance is an exchange and every exchange will usually support bitcoin  .

 bitcoin is only one and there are many altcoins but this does not mean that they prioritize the altcoins more than bitcoins . or its because binance have thier own token/altcoin which is called bnb coin

if binance is open to u.s  , bitcoin are not only the one that could pump but also altcoin can pump as well   .

[santiagomaicon]

Only binance registartion is not enough but bakkt is near

[fiulpro]

Legal -illegal

Good tweets about bitcoins-bad tweets about Bitcoins

I think we are now above all this .
Every now and then some things like these happens once in a while therefore when we talk about legal registration we should understand that we already have many other platforms like local Bitcoins that was founded in 2012 and is legal and it doesn't mean binance was banned before .. people still used it and they will still use it ..
Maybe 1-2% increase in volume can be seen and that's it.
And it's just US...

[befriendmywater]

I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

Crypto banning has taken place in so many countries but the participants are still numerous. Therefore, the prohibition or acceptance is just a statement and it does not matter too much.
The United States is still the country with the most participants in the crypto market, although the country has been banned. Therefore, this is also a normal event.

[Vishnu.Reang]

The exclusion of New York is going to hit them hard. I don't have the state-wise user stats with me, but given the size of the economy and population of New York, I am sure that they'll lose a lot of users and trade volume as a result of the exclusion. They have also excluded states such as Texas and Florida. I hope that they'll change this policy later.

[LogitechMouse]

First of all, US never banned crypto so what you said is already a false statement .

Regarding the price increase of Bitcoin, it is a no. If you will see the daily volume of Binance.us, it is very low and it is the same with Huobi US. Now what do you expect with it?? It will not affect the price of Bitcoin in the short run but maybe we can see a price increase if the daily volume of these exchanges will increase.