Altcoin News: Binance is Launching the American Division
August 16, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
According to the CEO of the largest cryptocurrency exchange — Binance, Changpeng Zhao, the American division of the site will be launched before November this year.
In an interview with Cheddar, Zhao said that users from America have always been a significant part of the Binance audience, so the exchange will try to launch the US division in the US as quickly as possible. According to The Block, about 20% of Binance users are US traders.
“There are a lot of things in flux, but I would say [we’ll launch] in a month or two,” said Zhao.
To launch the platform in the USA, Binance entered into a partnership agreement with the American company BAM Trading Services. But even after launch, users from New York will not be able to trade on the platform, since neither the Binance exchange nor BAM Trading have a BitLicense license.
Zhao also noted that the United States is in no hurry to issue clear regulatory requirements for cryptocurrency companies. Lack of transparency makes it difficult to do business and develop new products.
“The U.S. historically has made very clear regulations, so we hope that will clear up,” he said. “At the same time, some early adopters in this space will be better rewarded. There are uncertainties in the regulatory space, but we’re willing to try.”
He emphasized that the US market is one of the largest for any business, including cryptocurrency. Binance’s US division will fully comply with regulatory requirements.
In June, Binance announced that on September 12, users from the United States will have limited access to the platform. Almost simultaneously with this, it became known that the exchange plans to launch the US division of the platform.
Author: Marko Vidrih
