Binance responds to recent regulatory cases and begins with the definitive blocking of U.S. users

The most popular crypto exchange has already taken every step to prevent any access by American citizens.

Binance responds to recent regulatory cases and begins with the definitive blocking of U.S. users

Binance does not seem to want to risk its popularity and problems with U.S. regulators, thus they have implemented a strict restriction for U.S. citizens.

Binance not only has to face U.S. regulatory requirements, but recently the world-famous daily Forbes also dared to attack the popular crypto exchange. An article entitled “Leaked‘ Tai Chi ’Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators” of October 29 also stated that it was Binance who created a revised corporate plan to deliberately deceive U.S. regulators.

It is clear that the CEO of Binance felt wrongly accused, so he prepared and published a total of 7 points in which he explained that the statements and accusations were incorrect.

He also stated in other points that Binance had always operated within the law and had always used the correct licenses. The company even wanted to work closely with many notable law enforcement agencies worldwide and with respect to the U.S. they even created the segregation of Binance U.S. as a separate market.

According to The Block, the measures were not enough and anyone who wanted to register from the US could get full access by simply clicking on “I’m not [American]”.

However, almost two weeks after this incident, Binance decided to block U.S. users and began sending out bulk emails in the following format earlier this week:

We noted your account may be associated with the U.S. due to an IP address you connected from in the past. In-line with regulatory requirements, we are unable to provide services to U.S. citizens or residents.

If you are a U.S. citizen or resident, please transfer your assets out of your account within 90 days. You may consider using Binance U.S. or other U.S. platforms,

Binance in this way encourages everyone to transfer their assets from the account within 90 days and, if interested, may consider using Binance U.S. or other U.S. platforms.

Less fortunate companies include the well-known Bitmex crypto exchange, which has only recently been accused of operating an unregistered trading platform and failing to implement anti-money laundering measures.

Read also: Binance and Coinbase are still the most popular and the most visited crypto exchanges

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