Binance to Stop Serving US Traders Following Announcement of US-Dedicated Platform
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Today’s announcement provides a timeline for the new terms to come into effect, specifying that:
“Some short term pains may be necessary for long term gains. And we always work hard to turn every short term pain into a long term gain.”
As Cointelegraph has previously reported, CZ revealed in September 2018 that the company intends to launch five to ten fiat-to-crypto exchanges — two per continent — within one year, without specifying the exact locations.
As reported yesterday, Binance is establishing its U.S. platform in partnership with BAM Trading Services, which is approved by the Financial Crimes Enforcement Network (FinCEN).
In the wider crypto sector, the Huobi Group — operator of the flagship Huobi Global crypto exchange — launched a U.S.-based strategic partner trading platform last year, initially dubbed HBUS, but later rebranded to Huobi.com.