Binance is warning against US-based user !

[Arratee877 272]

I can not really confirm the legitimacy of news then to conclude on the development. Nevertheless it's unfortunately to US base to consider the warnings issue by the binnance exchange seriously investigate the root of the matter of it's true then they have to withdraw their savings to another exchange sites like coin base .

[Sykkuno 2887]

I don't think Binance wants to remove the US customers, it was the US that probably asked for Binance to not allow US customers after some regulation. They don't allow americans to trade on Bitmex either under some law that not allows this kind of trading and I think the same has done the UK.

[Russel 017 506]

Everything this restriction is all about will and must be blame on US and it’s transaction. It is not great for US traders It is good an ultimatum was given and announced beforehand. 

[Dorjoy12 8962]

On 12/29/2020 at 9:40 AM, Whited35 said:

whenever I see a massive sell off orders in US stock markets, price of crypto also  start to get crashed. 

 Do not its mean that mostly crypto user,holder,institutional investor comes from usa citizens as they have put most hype in crypto market always 🙄.. By the way,  if USA govt take this kyc step  successfully then might be there will have some change on market crash or etc.. Usa based exchange site can controls this influx..           

[zhoutong 2188]

There is a US branch for Binance they can migrate there. In fact Binance could easily do that without too much hussle and warning announcements. They could just move over all accounts of US citizens to binance US and have them under the regulations of that country.

[Baba g Sialkot 527]

The main platforms ought to have a hard explanation for this move yet in general it is an exceptionally terrible information for United States clients and on the grounds that they guarantee that US clients are not after the terms and guidelines of the stage.

[Whited35 15285]

15 hours ago, Dorjoy12 said:

By the way,  if USA govt take this kyc step  successfully then might be there will have some change on market crash or etc.. Usa based exchange site can controls this influx..           

No massive crash in market would happen just by enabling the KYC by the US-based exchanges. You might have already noticed, PayPal also needs verification but after enabling crypto on their platform, a massive surge in price of Bitcoin was detected. We can reject the fact that potential investors are also based in USA and their movement might also affect the price of top rated cryptocurrencies. 

[David84 1191]

This is strange news... Binance must have a strong reason for this... I guess the problem is with the American mentality ... they do not abide to the rules and regulations and they also have a lot of money that they might be affecting the balance at Binance... I guessed at the beginning that it was just a warning send to a particular American user then when I red the post a gain I found out that it was for all the American users.. so there must be a powerful reason.

[Mir Hamza 2888]

I also read this news, it is very shocking news because there is no exchange in the world that reduce their users. In this case I think US against the rules and regulations of Binance due to which they warne the US users and said them to leave the platform. I think there is only the reason is that the US against the rules and regulations of Binance.

[alaarami 103]

Of course, the popularity of that platform will decrease, as many people deal with that platform. If the platform is dedicated to Americans only, this will affect it very much, as a large proportion of the world deals with that platform. Thank you for your participation dear

[Rozy 1918]

It must be that US members are committing something wrong or taking advantage of the forum for something illegal or else Binance will not get rid of good members , it is in its best interest to have as many customers as possible because that means more profit. so I hope to know the exact reason behind these warnings.

[Dorjoy12 8962]

On 12/27/2020 at 9:37 PM, Arsal malik 759 said:

Hello my friend, Binances is warning so we should be careful about all what he explain to us so that we should not be a victims of it, take care my friend and Good Luck ...

If you are the citizens of usa then you need to worry about this or there has no reason to worry about this warning because Binance exchange site allows all country’s citizens to trade in their exchange..  By the way,  to make your exchange account     more secure and strong then you can pass your kyc there..           

[Fixfin 2569]

Binance would not have any problem against US users the reason is the futures trading exchange and the US not allow this trade to be done from unregulated exchanges under the regulations of this country, so it is the US government that probably informed Binance about that and the exchange does not want to have trouble with a country government.

[Ahmad N Ahmad 472]

What I their interest and benefit if they do that or are they self centered for the benefit of some youth in crypto if not warning and also attaching a penalty for it users in not proper. All I understand here they want to benefit from the crypto that is why US users follow their rules for peace to rain thanks.

[percare 3192]

On 11/30/2020 at 2:33 PM, Dorjoy12 said:

Binance going to do this because they claimed that some user of US dont follow their terms and so on..       

 

Binance explained that it doesn't offer services to US customers.

“Please note that as per our terms of use, we are unable to service US persons.

This is the quote from their email send, it wasn't that they didn't follow the terms. The terms excluded Americans from Binance anyway so they shouldn't be there at all.

[Dorjoy12 8962]

4 hours ago, percare said:

 

Binance explained that it doesn't offer services to US customers.

“Please note that as per our terms of use, we are unable to service US persons.

This is the quote from their email send, it wasn't that they didn't follow the terms. The terms excluded Americans from Binance anyway so they shouldn't be there at all.

 Binance has two section  and one is global  while another  is usa based section of exchange ..  Unfortunately  some usa user using the global binance  exchange  which is Against  their term as you said..  So can't  we say usa based user goes against  binance  term so binance  take this decision  @percare

[Zeshan7736087 287]

I think binance must not have problem with USA. Actually some members of binance would have been violating rules thats why it would be happening. Just like some countries are banned from this forum as well.

[Jidson 252]

Thank you for this good observation to call everybody into order to be careful of what they passed across to them in binance. This is very useful to the US citizens to take very serious.

[Serbberq 724]

The news can be true, just like in this forum that some countries are not allowed to participate same can happen in binance which US citizen will not be allowed to participate and they can be detected through KYC verification. 

[Jhujhu 62]

Binance is warning so we should be careful about what he explains to us so that we do not fall victim to it and wish my friends well.  You can benefit if you post well here and work with the mind.

[scofield64 943]

There is no exchange site that want to reduce their users, because the more the users the more the exchange will benefit from it. I think binance has a strong reasons why they want to banned Americans from accessing their site.

[bogdanoff 3173]

The US is blocking the citizens from many operations and trading this is why Binance given this warning. They don't want to have to face with Bitmex did and they want to be clear of any lawsuits. Bitmex was warned multiple times to block US traders but did not do much and they were then had legal problems, so Bitmex is being now under some kind of lawsuits and perhaps more problems as traders keep leaving this exchange.

[yonkii 3205]

On 11/30/2020 at 2:33 PM, Dorjoy12 said:

By the way, what do you think about this news??  Will the popularity of Binance decrease for this?? 

I don't have something to mind about this news, it is the US citizens concerns and Binance has a branch in the USA for this reason, it was already anticipated that US citizens would needed to be trading at regulated in the USA exchanges and probably won't allowed to trade anywhere else. Binance has Binance US but I think the reason they aren't moving there is the futures market. In the US they don't like this kind of trading as there are big future markets as CME that probably don't like competition from unregulated exchanges.

[Mella 3680]

Maybe the popularity of Binance will decrease, but if these traders are moved to the Binance exchange in the US then in total it will not change the Binance profit and popularity. I am not know if this will be a big problem, maybe it is going to move the americans to Coinbase.

[koala26 158]

Dude, this is especially in this country that has very special laws for crypto users, as USA laws try to make people can be a little more careful when making transactions, purchases and sales with cryptos, it is a good and bad thing, as they also pay taxes but have better education in cryptos.