Cryptocurrency
Binance has begun to block U.S. users from accessing its exchange platform
Binance has begun to block U.S. users from accessing its exchange platform: The Block reports, “Crypto exchange Binance has begun blocking U.S. users from accessing its exchange platform, The Block has learned. The move comes more than a year after Binance first announced in July 2019 that it would stop serving U.S. residents from September of that […]
Binance has begun to block U.S. users from accessing its exchange platform:
The Block reports, “Crypto exchange Binance has begun blocking U.S. users from accessing its exchange platform, The Block has learned.
The move comes more than a year after Binance first announced in July 2019 that it would stop serving U.S. residents from September of that year.
Until now, the exchange was still effectively allowing U.S. users to access its platform. As The Block reported recently, a U.S. resident just had to click ‘I’m not ’ to set up an account on Binance.com. It remains possible to create an account in this fashion.
Binance is now sending emails to U.S. residents based on their IP addresses in what appears to be a significant step toward enforcing its previously announced blockade of such users. One such email, sent Sunday and obtained by The Block, reads:
“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,’ the email continues.
A member of Binance’s customer support team told The Block that ‘once our system detects the access of account or the factors mentioned in the email are detected within the account then the following email notification will be sent out to users.’
Recent issues
Binance’s move comes soon after the U.S. government launched twin legal cases against crypto derivatives exchange BitMEX…”