Binance to block US customers | Bitcointalksearch.org

bitcoinuser12345

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Quote from: whyrqa-1 on June 15, 2019, 02:27:22 PM

Since many governments are involved in the same organizations to combat fraud and terrorism, any sources of funding for criminal groups will be identified and destroyed. Since the cryptocurrency market is still in the shadows and users of the cryptocurrency are largely anonymous, then of course any Government is annoying. Based on this, all governments will work in the direction not only to legalize cryptocurrency, but also to make this business open and controlled.

I don't think they would like cryptocurrency legalized but since they can't really make it illegal then I would say they try to make it open and controlled as an alternative.

peter0425

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Quote from: Pipdips on June 15, 2019, 02:54:10 PM

Quote from: vapourminer on June 15, 2019, 02:14:20 PM

been more or less expecting this.

i pulled everything from binance today (not much) and will join the us version when its up and running.

Do you think that the switch to a new version (for the USA) will increase the odds for hackers tampering with users funds?

Is there an exact date yet for when Binance plans to perform the switcheroo?

Quote from: DeathProxy on June 15, 2019, 02:22:00 PM

This news has had an effect on the general crypto market. As many US investors are now selling out their altcoin and converting it to bitcoin. Bitcoin is increasing while all other altcoin are down

Is that just your assumption or is there any solid news to back your claim up?

Lol, the rest of the altcoins are also going up today, so I think it's not speculation on his side. I might as well wait for the US version, but so far the news has no effect whatsoever, so I guess that when they release it, it might bring some good news and who knows, maybe we can see a boom and lots of newbie traders will flock into the Binance US version.

Pipdips

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Quote from: vapourminer on June 15, 2019, 02:14:20 PM

been more or less expecting this.

i pulled everything from binance today (not much) and will join the us version when its up and running.

Do you think that the switch to a new version (for the USA) will increase the odds for hackers tampering with users funds?

Is there an exact date yet for when Binance plans to perform the switcheroo?

Quote from: DeathProxy on June 15, 2019, 02:22:00 PM

This news has had an effect on the general crypto market. As many US investors are now selling out their altcoin and converting it to bitcoin. Bitcoin is increasing while all other altcoin are down

Is that just your assumption or is there any solid news to back your claim up?

whyrqa-1

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Since many governments are involved in the same organizations to combat fraud and terrorism, any sources of funding for criminal groups will be identified and destroyed. Since the cryptocurrency market is still in the shadows and users of the cryptocurrency are largely anonymous, then of course any Government is annoying. Based on this, all governments will work in the direction not only to legalize cryptocurrency, but also to make this business open and controlled.

DeathProxy

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World's First Crowd Owned Cryptocurrency Exchange

This news has had an effect on the general crypto market. As many US investors are now selling out their altcoin and converting it to bitcoin. Bitcoin is increasing while all other altcoin are down

vapourminer

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what is this "brake pedal" you speak of?

been more or less expecting this.

i pulled everything from binance today (not much) and will join the us version when its up and running.

im not really a trader (well i do a very few trades) so its no big deal but for those usa persons that do.. sucks man.

squatter

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STOP SNITCHIN'

Quote from: Pipdips on June 15, 2019, 12:50:49 PM

Quote from: Tipstar on June 15, 2019, 10:14:54 AM

Every exchanges seems to be making a two version of themselves. One, a full fledged exchange. Another a striped down version for the primitive people of United States as they are slow in realizing the facts and are generally hostile to science and technology.

That confuses me. Do you think Binance is on the users sides, or is Binance going the way of the government?

Binance is just doing what's in its best interest. If it carried on offering unregistered securities to US persons while dodging national securities exchange requirements -- requirements it can't possibly meet -- then enforcement actions like this would become increasingly likely.

The fact that Poloniex and Bittrex are both scrambling to comply with SEC requirements at the same time as Binance suggests the SEC is putting pressure on all of them to quickly make these changes.

Pipdips

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Quote from: Tipstar on June 15, 2019, 10:14:54 AM

Every exchanges seems to be making a two version of themselves. One, a full fledged exchange. Another a striped down version for the primitive people of United States as they are slow in realizing the facts and are generally hostile to science and technology.

That confuses me. Do you think Binance is on the users sides, or is Binance going the way of the government?

Fred3030

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Owing to the strictness of sec , Binance is trying to play safe and avoid having issues with sec. Blocking individuals from the united states to me is the best way to go in other to avoid litigation with sec in the future. This issue is not peculiar to binance alone as bittrex has also issued a statement blocking us citizens from 42 trading pairs. https://bittrex.zendesk.com/hc/en-us/articles/360029523891

Dontme

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US have the most numbers who uses bitcoin or cryptocurrency. Binance blocking US customers is a gamble and surely half or more than half of binance`s costumer are from US. There will be big effect on this move.

Tipstar

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Vave.com - Crypto Casino

Every exchanges seems to be making a two version of themselves. One, a full fledged exchange. Another a striped down version for the primitive people of United States as they are slow in realizing the facts and are generally hostile to science and technology.

Pipdips

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Quote from: mk4 on June 15, 2019, 06:08:31 AM

Quote from: o_e_l_e_o on June 15, 2019, 04:11:24 AM

While I don't think Binance is quite strict with this right now, I think they will be quite soon. I think they will start locking up accounts with incomplete account information or something(assuming they aren't locking up accounts right now).

The other day I noticed at Binance my account is "Unverified". Binance has an area there that asks for personal information such as: full name, date of birth, and facial info. It is not yet a requirement to give this person identifying information, but this makes me want to exit my funds out of Binance, because the entire reasoning of crypto-currency is to remain secret...

btc78

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Eloncoin.org - Mars, here we come!

Quote from: IIV on June 14, 2019, 04:33:23 AM

Binance, the largest exchange by volume is now going to leave behind it's US based customers. Anyone verified as US citizen won't be able to trade while the IP from US would be blocked by default effective from 12th September, 2019.
Binance Dex is also blocking US IPs.

https://www.theblockcrypto.com/2019/06/14/us-customers-to-be-blocked-from-trading-on-binance-com/

This will surely reflect to their trading volume since US brings large amount of investments to their platform and blocking US costumers May drop their popularity

But let’s see what will happen soon.lets get ready for this Binance trader lol

Pipdips

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Binance is more of a world bank, with a storefront that looks like a currency exchange platform...

mitchr4

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Then Binance will experience a massive decline in transactions since US customers dominated the exchange. It is a pity because previously US was also blocked by 2 big exchanges. I wonder why they did that whether US people have a lot of money like Whales can control the market. The use of VPN is very risky to use money transactions and its use can only make your data leak and misuse.

elisnrj

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Nellayar

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Quote from: IIV on June 14, 2019, 04:33:23 AM

Binance, the largest exchange by volume is now going to leave behind it's US based customers. Anyone verified as US citizen won't be able to trade while the IP from US would be blocked by default effective from 12th September, 2019.
Binance Dex is also blocking US IPs.

https://www.theblockcrypto.com/2019/06/14/us-customers-to-be-blocked-from-trading-on-binance-com/

Why? I think it will cause a big change in the market right now. It inflicts a lot since binance is one of the popular cryptocurrency exchange in the world. Maybe, it will pull out the US investors which may compose high percentage of traders at binance. I think BNB must review this case because US customers are really needed specially they are rich people.

7788bitcoin

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Quote from: meanwords on June 14, 2019, 04:48:06 AM

But why? US, according to the chart is giving them the most traffic so far and banning them doesn't make sense to me. I know I'm lacking information so I hope someone would fill us with this topic.

They are restricting the US users for a reason, the authorities are constantly putting pressure on them to comply with regulators and since they are not complying with them, they have to restrict the users and you will see more exchanges succumb to the pressure from the authorities and now we see in the news that bittrex also took the same stance as binance.

tomahawk9

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Quote from: bitcoinuser12345 on June 14, 2019, 05:05:25 PM

Quote from: tomahawk9 on June 14, 2019, 04:29:07 PM

Anyone elese expecting shitcoins to crash by a lot? A lot of people don't even know where to hodl X or Y altcoin/token since most of them rely on Binance to be the "main" wallet for their portfolio (you can still access your coins, but you won't be able to sell, so why hodl on Binance?). I believe some people will move to another exchange, but some others will definitely dump their coins because they don't trust "shady" exchanges.

The new US-friendly Binance platform will most likely not allow the same cryptos they had before so, kinda like checkmate to shitcoins since it'll be Coinbase 2.0.

Quote from: rdbase on June 14, 2019, 09:08:04 AM

This is sort of shock to hear but not surprising I think due to bitrex doing it for 32 cryptocurrencies a little while ago
https://cointelegraph.com/news/crypto-exchange-bittrex-to-block-us-users-from-trading-in-32-cryptos

Wow! Didn't know about this...Shitcoins and worthless tokens on suicide watch Grin

What a world we live in, exchanges blocking US residents, while corporate coins (JPM coin and FB coin, both US based companies) are about to get launched Angry

But why do some coins get banned while others are permitted? Don't they all count as digital currency in the eyes of the government?

IMO some are legit projects that are permitted because, well, they are legit (according to them)...The rest that are banned are either vaporware projects, pump and dump coins, or worthless shitcoins, and they raise huge red flags to the authorities. But what's triggering those red flags? You'd have to ask the US authorities and the SEC about that.

bitcoinuser12345

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Quote from: tomahawk9 on June 14, 2019, 04:29:07 PM

Anyone elese expecting shitcoins to crash by a lot? A lot of people don't even know where to hodl X or Y altcoin/token since most of them rely on Binance to be the "main" wallet for their portfolio (you can still access your coins, but you won't be able to sell, so why hodl on Binance?). I believe some people will move to another exchange, but some others will definitely dump their coins because they don't trust "shady" exchanges.

The new US-friendly Binance platform will most likely not allow the same cryptos they had before so, kinda like checkmate to shitcoins since it'll be Coinbase 2.0.

Quote from: rdbase on June 14, 2019, 09:08:04 AM

This is sort of shock to hear but not surprising I think due to bitrex doing it for 32 cryptocurrencies a little while ago
https://cointelegraph.com/news/crypto-exchange-bittrex-to-block-us-users-from-trading-in-32-cryptos

Wow! Didn't know about this...Shitcoins and worthless tokens on suicide watch Grin

What a world we live in, exchanges blocking US residents, while corporate coins (JPM coin and FB coin, both US based companies) are about to get launched Angry

But why do some coins get banned while others are permitted? Don't they all count as digital currency in the eyes of the government?

Topic: Binance to block US customers (Read 771 times)