Highlights
- Binance has successfully set up shop inside the US
- This comes after they were forced to closed down earlier due to the
hassles with US Regulation - New York among 13 other states yet to receive approval
In recent news, Binance’s US arm has opened
cryptocurrency deposits and exchanges inside the USA. The news comes as a
relief to US cryptocurrency investors who were looking for means to convert
their crypto. Initially, the exchange will list 6 cryptocurrency, which is said
to ramp up as they pass the US’ Digital Assets framework.
Previously, Binance had banned Americans from
starting accounts, as regulators grumbled that Binance never officially
operated in the US with legitimate approvals and procedures.
On 18th September, the Binance US exchange will
accept deposits for maintaining liquidity on the exchange. Users can deposit
cryptocurrencies and have them exchanged for their preferred cryptocurrency or
fiat. Initially, ACH and wire transfers are accepted for fiat transactions but
it is said that credit cards and other mechanisms will be added soon.
In a
statement, Catherine Cooley, CEO of Binance U.S., said that “although it
is upsetting that we cannot offer Binance.US in the states where I grew up and
earned my education at this time, please rest assured that this is just the
beginning, and it is our mission to bring access to those of you in these
states many of us call home.”
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