Binance to open a separate trading platform for US - page 2.

squatter

legendary

Activity: 1666

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STOP SNITCHIN'

Quote from: dul48 on June 19, 2019, 05:36:28 PM

That means we don't need to leave binance and binance won in this fight with the gov. Cool.

I wouldn't say that. Binance is still allowing daily withdrawal limits up to 2 BTC from unverified accounts. At current prices, that's over $18,000. The new FATF rules (according to earlier drafts) will require KYC reporting at $1,000/€1,000. Sadly, Malta -- Binance's regulator -- is very unlikely to allow Binance to continue operating in this manner. We're already seeing governments enact the FATF draft rules before they are officially released. Lithuania just enacted regulations reflecting the new rules.

dul48

newbie

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That means we don't need to leave binance and binance won in this fight with the gov. Cool.

nh0xxpr01

newbie

Activity: 29

Merit: 1

Oh thanks God coz I was already thinking that I had no chances trading there. I've been using Binance since the beginning and don't want to change an exchange.

joinfree

sr. member

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

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.

wxxyrqa

full member

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Merit: 137

It seems to me that the new rules for the use of cryptocurrency and cryptocurrency trading in the United States of America may be coming soon. Certain law enforcement agencies seriously took up the facts of abuse of certain people by the cryptocurrency market in the state, and also use every opportunity to avoid taxation. Most likely, certain rules for cryptocurrency trading will be implemented, and based on this, various trading platforms can take advantage of this situation.

Distinctin

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No dream is too big and no dreamer is too small

Quote from: Laxus215 on June 18, 2019, 04:29:26 AM

Quote from: klaaas on June 17, 2019, 03:46:28 AM

Quote from: Vaculin on June 17, 2019, 03:24:44 AM

They will certainly do that, find ways to still retain the market, US market is a big market IMO

bnb wont be listed so no discount on trades there. Wonder what the price will do without the us traders.

There is still chance BNB will be listed if they pass compliance by the US regulation. If not they US traders can trade BNB on Binance Dex as Binance Dex not going to block US traders.

I guess USA is already blocked in Binance DEX.
You can read the full details in this article - https://cointelegraph.com/news/binance-dex-will-geoblock-users-from-29-countries-including-the-us

Slow death

legendary

Activity: 3234

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: Broly46 on June 15, 2019, 03:50:03 AM

It’s now a high time to move everything out of exchange.

Okay, and then how will you do day trade?

Quote from: Broly46 on June 15, 2019, 03:50:03 AM

One should never trust them will keep their promise. They will always change their policy.

the exchanges created such policies when there was not yet great pressure from governments, today with the great pressure of governments the exchanges will be forced to change their policy. I would not be surprised if in the future the exchanges have to create several exchanges for each country to comply with the laws of each country.

This was already expected to happen.

aad140386

member

Activity: 420

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simply getting the job done

The US market is so big that no one just wants to keep it. Moreover, Binance's competitors are working in the USA and they will be happy to entice Binance users to themselves if they leave the US market. I think that this practice will apply more and more and not only to the USA but also to the EU countries and Asian countries. Everything goes to the fact that crypto currency exchanges will be regulated by government agencies. In any case, all the major exchanges.

Laxus215

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Activity: 244

Merit: 10

Quote from: klaaas on June 17, 2019, 03:46:28 AM

Quote from: Vaculin on June 17, 2019, 03:24:44 AM

They will certainly do that, find ways to still retain the market, US market is a big market IMO

bnb wont be listed so no discount on trades there. Wonder what the price will do without the us traders.

There is still chance BNB will be listed if they pass compliance by the US regulation. If not they US traders can trade BNB on Binance Dex as Binance Dex not going to block US traders.

localcrypto

member

Activity: 287

Merit: 10

With Binance opening separate trading platform in US we can expect positive development for crypto and Binance will be direct competition to coinbase and kraken

klaaas

hero member

Activity: 1568

Merit: 544

Quote from: Vaculin on June 17, 2019, 03:24:44 AM

They will certainly do that, find ways to still retain the market, US market is a big market IMO

bnb wont be listed so no discount on trades there. Wonder what the price will do without the us traders.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

They will certainly do that, find ways to still retain the market, US market is a big market IMO, so that will hugely affect their income.
Every country has different regulation, some are just overly strict, some are just lax, but to ensure to have a effective business model, they need to adopt with the law all the time.

Lily_Olive

newbie

Activity: 42

Merit: 0

Quote from: nickenburg on June 14, 2019, 10:58:44 PM

I think this is good news for the people in America, I already saw people who wanted to move to Europe because of the strict rules for ico's and now Binance to.
I don't understand why they are so strict in the first place maybe they should handle their real problems first, like the gun laws, innocent people getting killed with guns probably every day, and the huge gap in income, their always increasing debt (still spending the most out of all countries on the military)

And now they cant even trade on Binance anymore,(Free Country Btw) for some people their Money is actually stuck on there and it will take some time to get it off Binance.
I imagine it's not a fun time for them!

Yeah definatly this is a good news for all American citizens.. this increase the future of bitcoin..

stompix

legendary

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Blackjack.fun

Quote from: squatter on June 15, 2019, 12:46:40 PM

If the US platform is anything like their Jersey platform, it'll be a total flop. US traders use Binance for the abundance of markets and lack of KYC. If the US site doesn't offer those things, nobody will use it.

People think this is just bad news for US traders, but it's also bad news for token markets. With US traders being increasingly fenced off from token markets, there will be less demand and liquidity for tokens. Maybe ICOs, IEOs and STOs will therefore take a back seat and the market will return to the good old days of pumping altcoins.

I don't think that they even dream of creating the .us platform without KYC.
It will be like asking from the first second to get in trouble.
As for tokens, bad news for them is good news for the markets, those shitcoins need to be isolated and I would be happy if the only place they are allowed to be traded is some sinking atoll in the Pacific.

Binance was great as it was a wild west, no kyc, full of pump and dumps, every shitty token you could ever dream, once they start cleaning and meeting requirements they will turn to a desert.

figmentofmyass

legendary

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Merit: 1483

Quote from: Herbert2020 on June 15, 2019, 01:12:59 AM

i don't think they can take that much of the market share if they open up a new "fiat" based bitcoin exchange targeting US only while there is a much bigger and better exchange called Coinbase exists which has most of the market in its control.

here's my guess. they are aiming for the bittrex model, not the coinbase model: create a modest fiat gateway service that reinforces liquidity on the exchange, then focus on hundreds of altcoin markets. unlike coinbase, that's their bread and butter.

it may be an unpopular opinion, but i believe binance's USA site will still have a huge number of listed altcoin/token markets. perhaps several dozen less than binance.com but i don't think it will be the barren wasteland everyone expects it to be.

compare bittrex to bittrex international. that's the comparison to make, not binance.je to binance.com.

RBF

full member

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Binance boss has a great plan to improve the Binance growth and of course, he is doing the best thing for the whole crypto market. I wasn't shocked by hearing the Binance blocked the US trading, today Bittrex did the same thing though. Now, If Binance comes with the Binance Us trading platform then that will enough good. But I feel Binance can open their DEX exchange's door for the US traders instead of another new domain!

tsaroz

legendary

Activity: 3164

Merit: 1069

This would start a trend of global exchanges creating local versions to accept fiat and bank transfers along with crypto exchanges that comply with the local laws.
It would be going to be another coinbase for US citizens. But for a real crypto exchange, they require to look elsewhere, and here is where decentralized exchange comes to spotlight. One's that does not require user to verify anything as they'd just be facilitating user to user trade.

rodel caling

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Activity: 952

Merit: 104

Quote from: Tipstar on June 14, 2019, 08:22:12 PM

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

Great this pretty brilliant idea from the binance company trading exclusively separate platform for US citizen using crypto currency.
Good luck to US crypto ethusiasm and for binance hoping this moves can give possible big impact to the crypto community.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: omone1 on June 15, 2019, 07:29:09 AM

I like the move, we don't want to see the US financial compliance department destroy binance. Instead, binance should have US friendly and compliance exchange in the States soil. Wise step by CZ again.

Even if such exists in the USA, likely, IMHO it would still not allow 'Tokens' like LISK to be traded. Why bother, at that point a year or so down the road by the time

this exchange exists in the USA. Such token issues would already be resolved or still banned. Binance, IMHO would still have to be 'completely' disconnected from its

the overseas counterpart for this to work, just no way, IMHO, you can have an unregulated foreign exchange still have connections with a KYC fully vested USA exchange of the same

name etc. That just is NOT gonna fly in any manner, IMHO.

Julunguul

member

Activity: 473

Merit: 11

Quote from: Tipstar on June 14, 2019, 08:22:12 PM

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

On the one hand, this might be one of the effects brought about because of the trade war between the US and China so CZ also participated in giving a special place for users from the US or maybe the Chinese government who gave CZ advice like this.
However, the impact Binance got was not too strong especially to bring down the BNB

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