Binance stops its services for US citizens

Binance said they were stopping access to US services. The new ban takes effect from September 12. Once officially implemented, US citizens will not be able to trade through Binance, as well as deposit funds on their accounts.

This news surprised the crypto enthusiasts in the United States because earlier than Binance announced they would launch a Crippto exchange in the United States. Their new project named Binance US has already been approved by the Financial Crimes Enforcement Network, which is a division of the US Treasury Department.

The new exchange will be launched jointly with BAM Trading, although it is still unclear exactly who is behind this company and what is their exact business.

No matter how annoying it is for US citizens, it will certainly harm Binance as well. 15% of all traffic on the site comes from the United States.

Source: Finance Magnates

 Trader Martin Nikolov

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