Is Binance Going To Return To the United States?

1 min reading
Is Binance Going To Return To the United States?

Head of Binance, Changpeng Zhao, claims that the cryptocurrency exchange will re-enter the cryptocurrency market in the United States. No specific date has been given yet, but the declaration was quite firm.

Changes in the USA

Binance announced in June, that it was about to put all its operations in the United States on hold. All customers were then required to suspend all operations on their accounts until September. It turned out to be part of a larger operation as Changpeng Zhao had plans to launch a full-fledged US cryptocurrency exchange. Zhao, when asked about Binance's return to the US market, did not give a specific date. In an interview with Cheddar.com, he said:
I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.

Legal issues

Cryptocurrency regulations have long been number one topic in many interviews and national discussions. Zhao reminds of Binance's cooperation with BAM Trading Services, which is supposed to help the exchange get through legal issues related to business. He emphasized that the company has a clear partner in this matter now and, in turn, it is able to enter a specific market more easily.
I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing. And for new things, the US is a big country and with a lot of regulatory bodies and a very large market [...] in a large market it is harder to regulate.
Zhao does not hide the optimism that comes from the upcoming expansion of his operations on the US market. He believes that Americans are a good target for financial innovation, and that cryptocurrencies in this country have a good chance of success.

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