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Binance Begins Blocking US Users From Its Platform
Summary: Binance has started blocking US users from accessing the exchange, as reported by The Block. The development comes more than a year after Binance announced in June 2019 that it would stop supporting US residents from September of that year. Following that announcement, the exchange was doing little to prevent US users from accessing the ...
Binance has started blocking US users from accessing the exchange, as reported by The Block.
The development comes more than a year after Binance announced in June 2019 that it would stop supporting US residents from September of that year. Following that announcement, the exchange was doing little to prevent US users from accessing the platform.
However it now seems the exchange is taking steps to enforce the policy. Binance is now sending emails to US residents based on their IP addresses advising them to transfer their assets out of their accounts within 90 days and notifying them that Binance is unable to provide them services.
The crackdown comes after the United States Department of Justice and Commodities and Futures Trading Commission filed twin cases against crypto derivatives exchange BitMEX. It also comes days after Forbes published an article alleging an elaborate culture of avoiding US regulators.
By Emily Mason
Tags: Binance,Commodities And Futures Trading Commission,Department of Justice,United States Regulators
Link: Binance Begins Blocking US Users From Its Platform [Copy]
