Binance.us approaches admission in all 50 countries

Binance.us approaches admission in all 50 countries

Three years after the foundation of Binance, us can now access the stock exchange in Louisiana to buy, sell and act cryptocurrencies. Binance.Us, the American partner company of the KryptoBörse Binance without its headquarters, is now available in 45 US states.

inhabitants of Hawaii, Idaho, New York, Texas and Vermont have to wait to access the services of Binance.Us.

"Every state, including Louisiana, has unique requirements and we are working to ensure that we can ultimately operate in all 50 countries," said Sidney Majalya, Chief Risk Officer from Binance.us. "We are very happy to be able to offer our services in Louisiana and like other states, look forward to working with state officials to demonstrate our compliance-first thinking way."

March, Wyoming was the last state that was deleted by the barrier list by Binance.us. The hurdles for the launch in the USA were considerable because each US state requires different licenses that have to be issued by various state supervisory authorities.

in Connecticut, where Binance.Us introduced its services in January, the stock exchange had to receive a transfer license from Connecticut Department of Banking. In Georgia, Binance.us had to secure a seller license for payment instruments from the Georgia Department of Banking and Finance.

Due to increasing regulatory restrictions, Binance blocked US customers for the first time in September 2019 and announced The foundation of binance.us by a partnership with bam trading services.

Customers in approved states had to meet stricter KYC rules to access binance.

In view of the fact that other exchanges based in the USA have similar requirements, at least in recent years, the demand for Binance remains strong, said Majalya.

"So far we have found a strong demand in Connecticut and elsewhere in 2022," said Majalya. "Although it is still too early to create demand forecasts for Louisiana, we assume that our low fees and differentiated user experience will continue to attract loyal customers across the country."

Majalya and a spokesman for Binance. Us could not provide any information about when the remaining five countries could receive approval.

"The company is currently working in 45 jurisdiction in the United States and works closely with the remaining state supervisory authorities to receive permits so that it can offer its services in all 50 states and territories," said Binance.

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The contribution binance.us inches closer to approval in all 50 states is not financial advice.