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  1. 14 June 2019, 7:41 pm #1
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    Default Binance is closing its doors to US residents

    On the 12th of September, Binance will disallow US residents from making deposits or trading on the current exchange. A new Binance exchange binance.us will soon be launched for US residents.

    This probably explains the dip in the alt prices & the BTC pump as US residents sell off their alts and transfer the money back into BTC before moving their BTC off the exchange.
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  3. 14 June 2019, 8:00 pm #2
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    It explains the dip, but why should US residents sell the alts to BTC? The alts will be fully withdrawable even after 12th Sept if I understand it. Just they will restrict deposits.

    Alts went down, because Binance is a big alt player.
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  5. 14 June 2019, 8:12 pm #3
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    My guess is the main reason to separate the us residents out has to do with the KYC rules, are they fairly relaxed currently at binance? I wonder if some of the banks Binance is using to change funds into/outof US Dollars are becoming more strict with them, or they are worried that a sudden future change could affect them and they feel separating things now is safer for them.

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  6. 14 June 2019, 8:23 pm #4
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    There are no banks working with binance, it is 100% crypto to crypto exchange, like Poloniex for example. There is a separate binance website for fiat in Jersey, Uganda and Honk Kong I think, but those are just insignificant startup projects. This upheaval is about binance.com
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  8. 14 June 2019, 10:25 pm #5
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    Thanks for clarifying that

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  9. 15 June 2019, 7:20 pm #6
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    they are worried that a sudden future change could affect them and they feel separating things now is safer for them
    I believe this is the case. Nowadays it is not so big difference for crypto-crypto and fiat-crypto aml restrictions.

    I believe they want to keep nonUS fairly deregulated (up to 2btc daily with no verification) and not to lose the US market at once.
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  11. 16 June 2019, 1:24 am #7
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    That’s terrible and now it looks like Bittrex has unfortunately followed suit:


    https://www.newsbtc .com/2019/06/15/altcoin-crypto-trading-axed-for-americans-as-bittrex-follows-binance/
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  13. 17 June 2019, 1:16 am #8
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    I do not think it is terrible. The discarded coins are total sh1tcoins. The news already help to bitcoin massively.
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