Binance legally registered at U.S, does Bitcoin will get increase? - page 4.

Vishnu.Reang

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Quote from: babysweetTiger0401 on September 17, 2019, 07:01:39 AM

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.

fullhdpixel

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Quote from: babysweetTiger0401 on September 17, 2019, 07:01:39 AM

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.

The Cryptologist

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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.

imstillthebest

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Quote from: Google+ on September 17, 2019, 07:05:05 PM

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 .

Quote

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

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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.

Finestream

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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.

Duzter

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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.

drumamat

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Quote from: dessyhodin97 on September 17, 2019, 08:50:33 AM

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.

squatter

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Quote from: OmegaStarScream on September 17, 2019, 07:11:09 AM

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.

bitbenzhong

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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.

Vishnu.Reang

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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.

matchi2011

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Apparently, Bitcoin price isn't affected by U.S. registering Binance. I am sorry but not all positive news directly affects Bitcoin price. I wish Bitcoin set off a bull run again. It was going very good until it stopped between 13k-14k dollars.

There's a lots of factors that's needed to be added before we can feel the impact of the price if there's some that will happen, not just because we've heard good news it's will reflect right away to the entire market, though most of the investors are still hoping that with news like this addition to the adoptions will take place, from there we will see more price movements.

nutella_11

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Well USA didn't ban Bitcoin,but they have a lot of restrictions. Many exchanges are available in the USA, recently I've seen that CoinDeal entered the USA market. So, cryptocurrency market in the USA has been constantly developing.
In my opinion, that's just impossible for USA to ban Bitcoin comprehensively.

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Quote from: babysweetTiger0401 on September 17, 2019, 07:01:39 AM

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?

I have read the official announcement from Binance about banning US citizens from participating in the exchange on Binance after this weekends. Why is it accepted in the US and does this affect the decision Binance announced earlier? Any information provided on Binance's official website?

bernardos

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Are they still going to use the new Binance US site or can US citizens trade freely on the official Binance site now with the rest of the world?
I dont see the need for a separate site just for US traders especially if Binance now possesses the needed US license.

auntyjmary

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There are many residents in USA who make use of bitcoin. US have never banned the use of cryptocurrencies but there are strict regulations that exist in some states in the United States Of America where the use of cryptocurrencies and essentially bitcoin is regulated by law especially when it comes to how bitcoin are traded.

Distraction

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I didn't hear a thing about US banning cryptocurrencies. It is not a true information. Instead, we can say that US has not been much a fan of cryptocurrency industry. After this event, Bitcoin doesn't seem to be much affected.

phamminhtan

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Quote from: babysweetTiger0401 on September 17, 2019, 07:01:39 AM

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?

Yes! I think this news will have a positive impact on the price of Bitcoin at the moment, and it will also slightly increase the price of allcoins.

BrewMaster

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Quote from: babysweetTiger0401 on September 17, 2019, 07:01:39 AM

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?

What in the wild hell gave you the idea that the US banned crypto? That's the craziest thing I've heard, our government has come out and said they are working with exchanges to make sure that they limit illegal use but that just shows they're seeing this as a here to stay thing.

most probably it is like everything else and the reason is simple: FUD.
throughout the past couple of weeks that they have been trying to manipulate the price and were trying so hard to push it below $10k once again, all kinds of crazy things were being heard all over the internet about bitcoin. US banning bitcoin FUD is not surprising really!

bitbunnny

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I don't think that will influence the Bitcoin price in any way.
It's only about the registration of company and Binance isn't such big exchange that could influence the price changes.
The reason for such decision of Binance is probably just regulation and legal framework demands so there is no reason to look for some secret meaning.

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