Binance to Launch Binance U.S., Bans U.S. Residents from Binance .com
Leading cryptocurrency exchange, Binance, is set to launch Binance U.S. in cooperation with BAM Trading Services, a San Francisco-based company registered as a money services business with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN).
In a tweet early Friday morning (CET), Binance co-founder and chief executive Changpeng ‘CZ’ Zhao noted that “there will be a few restrictions on Binance .com accompanying [the launch of Binance U.S.]. But some short term (sic) pains may be necessary for long term (sic) gains.”
Various Twitter users were left confused by Binance’s decision to launch Binance U.S., given U.S. citizens can already trade on Binance .com.