Binance.US Finally Launches For US Traders - BNB Confirmed As An Addition

Binance.US Finally Launches For US Traders - BNB Confirmed As An Addition

The US Branch of Binance is finally here with the launch of Binance.US today. Binance.US will now officially accept registrations and deposits from its US-based customers. The platform is slated to launch with 6 cryptocurrencies that include BTC, ETH, XRP, BCH, LTC and USDT (with BNB also confirmed - but we will get to that shortly). The team state that this is the initial wave of coins to be added to the exchange with more coming in the following weeks once the cryptocurrencies pass the Binance.US Digital Seet Assessment Framework. 

Why Is This Important?

This is an important day for US traders as they were left out to dry when Binance announced that they would be banning US traders from accessing their platform. This sent a wave of fear throughout the industry as people were concerned that the largest exchange in the world was unable to remain compliant with regulators. Although Binance did not say much about the situation, it is pretty much accepted that the ban was related to fear of regulation.

Sorry, New York - You Aren’t Allowed In...Just Yet!

The launch of Binance.US has been described as a gradual roll-out that will introduce more states over the following weeks. Unfortunately, if you are in New York, Florida or Texas, you will not be able to register for Binance.US just yet! In fact, there are over 13 states which are excluded from participating initially that also includes Washington.

Binance.US - A separate entity from Binance

If you have deposited funds into the official Binance platform and register for Binance.US, your funds will not be transferred over to the new exchange. This is because Binance.US and Binance are two completely separate entities. Binance.US is run by BAM Trading Service, a company that is registered with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) in the U.S. This is a way for Binance to be able to offer to trade for US customers as the company in charge of Binance.US is a registered FinCEN company in the US and therefore are compliant with regulators.

BNB Addition Rumours 

Originally, it was stated that Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and Tether would be the first coins to be added to the exchange. However, there was a rumor that was floating around on Twitter that stated that BNB would also be introduced in the first phase of coins;

Well, it seems that CryptosBatman was correct as Binance officially posted the following Tweet today which confirms that BNB will also be one of the first coins added onto the exchange. 

So, it is all official! You can now start to register for your account on Binance.US provided that you are in one of the registered states. Trading will begin on the exchange once sufficient liquidity levels have been met in each cryptocurrency to ensure a healthy market.

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