Crypto exchange Binance has begun blocking U.S. users from accessing its exchange platform, AtoZ Markets has learned. The move comes more than a year after Binance first announced that it would stop serving U.S. crypto traders in 2019.
November 10, 2020 | AtoZ Markets – Binance, the largest crypto-to-crypto exchange by volume has begun blocking user accounts from the United States. In an email, the company advised them to withdraw funds within 90 days.
The move comes more than a year after Binance first announced in June 2019 that it would stop serving U.S. residents from September of that year.
U.S. customers to be blocked from trading on Binance.com
Until now, American clients of the exchange indicated during registration that they were not related to the United States. According to the publication, Binance is now sending out emails based on their IP addresses.
"In accordance with regulatory requirements, we are unable to provide services to US citizens or residents," - said in the message.
The exchange encouraged users to switch to Binance US or other US platforms.
The company made the decision to block the accounts after American regulators accused the owners of the BitMEX cryptocurrency derivatives exchange of running an unregistered trading platform and violating the rules of the Futures Trading Commission.
Recall that Binance CEO Changpeng Zhao called the persecution of BitMEX a "wake-up call" for the bitcoin industry and urged its representatives to be careful.
Think we missed something? Let us know in the comment section below.