Binance US launching sooner than expected? According to CZ, Binance US launching sooner than expected, as early as November!
Binance US will also be providing its service to American Clients as well, who are progressively getting blacklisted from different exchanges.
Binance, the world’s biggest crypto exchange, declared in June that US clients would lose access to the website starting September 12th. This was announced in conjunction with plans to re-enter the market with a regulated fiat-to-Crypto exchange. Binance.US said that they would be pursuing a relationship with BAM trading services, and simultaneously announced that Catherine Coley, a former Ripple executive, would be tapped as CEO of Binance US.
The only issue? BAM doesn’t have a BitLicense to operate in New York. Few exchanges do, including Kraken. CZ said that trading would not be accessible for New Yorkers at first, but they do plan on applying for a permit from the New York State Department of Financial Services. Bolstering this attempt is the fact that BAM trading is already regulated by FinCEN.
The US, in the broader sense, is falling behind when compared to other countries when taking into consideration Cryptocurrency. The US still does not have a clear cut regulatory direction for crypto organizations – this has lead to businesses to be overtly cautious and has made some companies unwilling to develop, operate, and develop their services and products.
Binance US is reportedly going to list 30 cryptocurrencies at first, including some lower cap altcoins like MANA, HOT, NANO, ZIL, RVN, REP, LOOM, and ZRX.
What do you think? Do you still use Binance? If so, and you’re an American, what’s your backup exchange? What will you use? Let us know on our Facebook Page!