Cryptocurrency exchange Binance, has announced that it is all set to set foot in the United States of America. To, this end, the exchange is collaborating with a local partner, BAM Trading Services, a blogpost announced.
The Chief Executive Officer (CEO) of Binance, Changpeng Zhao, said, “We are excited to finally launch Binance.US and bring the security, speed, and liquidity of Binance.com to North America. Binance.US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance.”
The blogpost further added that BAM Trading Services will support Binance.US to launch, with focus on the trading of mainstream cryptocurrencies with liquidity. A representative from the BAM Trading Service said, “It is an honor to partner with Binance to launch the U.S. extension of Binance, leveraging its tier-one security and technology in tandem. We are committed to providing a secure and compliant platform, and beginning the start of a fruitful alliance with Binance.”
This move, comes soon after the exchange announced that its decentralized exchange (DEX), website would block access to 29 countries, including the USA. At the time, the website had said, “It seems you are accessing www.binance.org from an IP address belonging to one of the following countries: USA, Albania, Belarus, Bosnia, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, the Crimea region of Ukraine, Croatia, Cuba, Herzegovina, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova, Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, or Zimbabwe.”
However, Larry Cermak, the Director of Research at The Block said, “Starting next month, Binance’s ‘decentralized’ exchange will start geo-blocking 29 countries including the USA. Of course, this will be possible to circumvent fairly easily through a VPN but just goes to show that it’s a non-custodial exchange (so far?) – not decentralized.”
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