June 14, 2019, | AtoZMarkets - The global crypto exchange Binance announced that it will stop serving US individual and corporate customers on Binance.com in September 2019.
US Binance clients are prohibited from trading since September
Notable, that Binance’s announcement comes just a few weeks after, the similar message from a non-custodial exchange Binance DEX, launched in April 2019. The company’s announcement states, that it will start geo-blocking 29 countries, and the USA among them from July 1, 2019. The company addressed its clients, by saying that it will no longer be available for users with IP addresses from the listed countries to trade and access wallets through binance.org. The community suggested, that the main reason behind Binance DEX initiative was SEC charging the founder of decentralized exchange EtherDelta with operating an unregistered securities exchange in November last year.
It is worth to mention, that Binance can only block access to the Binance.org or any other Binance website via geo-blocking. However, Binance blockchain cannot be blocked.
Alternatives for Binance US clients
The crypto exchange CEO and founder Changpeng Zhao in his turn offered an optimistic outlook on the upcoming changes in his Twitter.
In addition, Binance has announced recently launching a separate fiat-to-crypto exchange to serve the U.S. market in full regulatory compliance.
US Binance trading brings 20% monthly traffic to Binance
Binance.com monthly traffic coming from the U.S. customers reaches 20%, having halved since early 2018 when was approximately 30%. At the moment Binance offers to the trade of more than 150 different cryptocurrencies. The company has already launched fiat-to-crypto exchanges in Uganda, Singapore, and Jersey, all of which only supports trading of bitcoin, either, and BNB.
Please share your thoughts with us in the comment box below.