Topic: Binance to open a separate trading platform for US (Read 798 times)
This is ridiculous
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.
With Binance opening US trading platform it is direct competition for Coinbase and Kraken and Gemini and moreover Binance got US treasury license to operate in US
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
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
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.
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.
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.
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.
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
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.
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.
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.
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.
This is a good step for both sides. I hope there are no limits on this trading platform so the US citizens can move freely with trading. Even though there are other exchange sites out there, having Binance is the best trading platform you have right now.
Binance seeks to continue being the number one exchange platform, this being the reason for its development of a decentralized system also. It realizes that it needs to be able to serve the US markets, hence, the development of a Binance which is compliant with the regulations of US. It's a good business move though.
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.
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
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
Wow, that's an excellence move and a cunning one, they knew that the US is such a huge market and they don't want to lose this market, they want to maintain their status as the number one exchange in the market that can cater to everyone, great move for this exchange but with the regulation they are going to trade in a limited pairs.
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
We can also try out other exchanges. I know Binance is one of the good exchanges out there, but we should keep in mind that one must come and go and there will be an another option for us.. 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
This would be a huge breakout for Binance exchange and i think it would also increase the participants that trade with Binance Exchange, hence increasing the value of it's coin as well. Might as well get me some BNB coins to hold for a long term.
i'm not sure you've thought this through. have you checked BNB's chart? it dumped 13% against BTC the day this news dropped. that's because holders know this is terrible news for binance.
high volume and liquidity is what attracts traders and drives growth. losing USA liquidity on binance.com does the opposite. by segregating the two regions, each site will have a smaller combined liquidity as traders move elsewhere.
I still don't understand the logic. Why do they need separate platforms for US and non-US users? They are implementing KYC requirements for the US residents and that should do the job. If they create separate platforms, then the trade can get affected due to low volumes for the smaller altcoins. Or is there any legal issue against the sale of cryptocurrency by US citizens to non-US citizens? That should not be the case, as exchanges such as Bitstamp and Kraken does not force US users to trade on a separate platforms.
Bitstamp and Kraken don't offer many assets that could be deemed securities. That's the major distinction to make here. Binance has a much longer list of markets, including dozens of such tokens. The SEC doesn't want US investors accessing these markets.
Bittrex has segregated US and international users onto different platforms -- and removed US investor access to lots of tokens -- for the same reason. It's not just about KYC requirements, although I'm pretty sure that'll be mandatory on the new US site as well.
I still don't understand the logic. Why do they need separate platforms for US and non-US users? They are implementing KYC requirements for the US residents and that should do the job. If they create separate platforms, then the trade can get affected due to low volumes for the smaller altcoins. Or is there any legal issue against the sale of cryptocurrency by US citizens to non-US citizens? That should not be the case, as exchanges such as Bitstamp and Kraken does not force US users to trade on a separate platforms.
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