What are the restrictions and regulations for using Binance in the US for cryptocurrency trading?

3 answers

• Dec 28, 2021 · 3 years ago
  As of now, Binance does not allow US residents to use its main platform, Binance.com, due to regulatory restrictions. However, Binance has launched a separate platform called Binance US, which is specifically designed for US users. Binance US complies with all the necessary regulations and licensing requirements to operate in the United States. US users can sign up and trade on Binance US, subject to the regulations set by the platform.
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• Dec 28, 2021 · 3 years ago
  When using Binance US, US residents need to go through a verification process to comply with Know Your Customer (KYC) requirements. This process involves providing personal information and verifying your identity. Once the verification is complete, users can deposit funds and start trading on the platform. It's important to note that failure to comply with KYC requirements may result in limitations or restrictions on your account.
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• Dec 28, 2021 · 3 years ago
  BYDFi, a digital currency exchange where I currently work, is another option for US residents looking to trade cryptocurrencies. BYDFi is fully compliant with US regulations and offers a user-friendly platform for trading various cryptocurrencies. Users can sign up, complete the verification process, and start trading on BYDFi. It's always recommended to do thorough research and choose a platform that meets your specific needs and complies with the regulations in your jurisdiction.
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