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It's Time for Binance America

3 min reading
Binance straciło 40 milionów USD podczas ataku hakerskiego

It's not a good time for US citizens using Binance, in less than 90 days they will no longer be able to trade on the exchange. However, Changpeng Zhao, CEO of Binance, has a plan. It's time for Binance America.

Investors have only 90 days to finish their transactions.

Binance has updated its Terms of Use on June 14. Regrettably, new conditions are not favourable for US citizens:
Binance is unable to provide services to any U.S. person. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.
Later on, the company has made another update:
After 90 days, effective on 2019/09/12, users who are not in accordance with Binance’s Terms of Use will continue to have access to their wallets and funds, but will no longer be able to trade or deposit on Binance.com.

Time for Binance America

Changes in the exchange's regulations are definitely harmful to US citizens, however, it is not completely bad news since Binance.US is about to be launched soon. After informing about changes, the stock exchange officially announced the commencement of cooperation with BAM Trading Services Inc. in order to offer transaction services in the USA. Thanks to the cooperation with BAM, the exchange will be able to successfully license its technologies to its USA partner, who is entirely regulated by FinCEN (Financial Crimes Enforcement Network). After being asked about the partnership, Changpeng Zhai said:
We are excited to finally launch Binance.US and bring the security, speed, and liquidity of Binance.com to North America… Binance.US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance.
The information has also been confirmed on the BAM blog:
BAM Trading Services is thrilled to announce a partnership with global leading cryptocurrency exchange Binance to launch Binance.US.
The BNB token depreciates
Binance Coin (BNB) fell by 5.27% following the update of Binance's Terms of Use and information about the partnership. The current BNB price is about $33.78, which shows that not everyone is satisfied with the upcoming changes.
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