Binance:End of Access to many Altcoins for USA

Binance is forced to close soon and prevent access to its main exchange to crypto enthusiasts and residents of the United States. As we know, a few days ago, the exchange had to do the same for its DEX.

Thus, as of September 12, 2019, these users “will continue to have access to their portfolio and their funds, but will no longer be able to trade or deposit on Binance.com”. A huge turnaround, when we know that at least 15% of Binance’s traffic comes from American customers. Residents will have no trading options for many cryptocurrencies when the main Binance encryption swap will not be available in September, according to a report released on June 14 by CryptoPotato.

The crypto-exchange reported after several successive updates this day of its terms of use that the site could no longer serve as customers residing in the US. As a result, all users who are traders from America are now considered to be in violation of the updated terms of Use and will have limited access to the site after 90 days. However, Binance CEO Changpeng Zhao (CZ) noted that these changes would be useful in the long run. As he said:

“Some short-term pain may be needed for long-term gains. And we are always working hard to turn every short-term pain into a long-term gain. “

Therefore, Binance announces the upcoming launch of a Binance.US site, from a US-based subsidiary, co-opted by BAM Trading Services, a partner approved by the Financial Crimes Enforcement Network (FinCEN).

Check Also

Facebook:Only 2% of Americans would trust on Libra

After a study by CivicScience, it turns out that the vast majority of Americans have …