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FORTUNE may receive compensation for some links to products and services on this website. Binance, one of the world's leading cryptocurrency exchanges, is not currently available in New York. Coinbase is a better choice for those in search of more frequent payout rates and more educational resources. This is due to the fact that Binance has not yet applied for a BitLicense, which is required for any business dealing in digital currencies in the state of New York. Can use kucoin either in ny or cro.com or any other exchange accept coinbase wich makes u wonder why coinbasethis sucks. As of this writing, Binance Coin is available for $343 per coin, a decline of 50% from the all-time high of $690 set earlier in May 2021. Crypto industry distances itself from Silvergate as bank collapses Ben McShaneSportsfile for Web Summit/Getty Images, stop any further issuance of the BUSD stablecoin. Ill link a video I found here. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Deposit, withdraw, buy, stop order, sell, trade, time in force order, limit order, Limits vary based on the region and selected payment method. Have fun with your coinbase and gemeni accounts tho. Binance.US is not available in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont. Where can I get BNB in NY? Users in over 180 countries can trade on Binance, but only 43 states can use Binance.US, excluding Connecticut, Hawaii, New York, Texas, Vermont, Idaho, and Louisiana. The original concern was consumer protection, he says, not to launch crackdowns, as weve seen across Asia. As a digital nomad, she explores the transformative power of blockchain technology. Top Reasons Why Binance is Not Next FTX! - Coinpedia Fintech News Bybit Suspends USD Payment Services via Bank Transfer Due to Silvergate Bank Technical Issues, Veteran short seller calls Silvergate a 'publicly traded crime scene' and predicts its imminent closure, Ripple Says Recent Supreme Court Ruling Weighs in its Favor in SEC Case, Shiba Inu lead dev drops hint on Shibarium's imminent release. Whats odd is that Binance, one of the most popular exchanges this side of Coinbase and perhaps the fastest growing on the planet, has never even applied for the license. Trading Binance says 13 states will be blocked from its new crypto exchange Binance.US. Subscribe for free to Inverses award-winning daily newsletter! Binance is not available in New York, as the platform was banned from operating in the US for not complying with the country's regulations. SEC & New York Authority Appeared against Binance.US Deal Worth $1 Most recently, in November 2017, the regulator issued a BitLicense to Bitflyer, a Japanese exchange specializing in trading and selling bitcoin. Binance.US is not available in all US states and has a more limited selection of cryptocurrencies available. The network has taken various initial steps including the prohibition of a few states in the network in order to make it acquiescent across the land. The information you requested is not available at this time, please check back again soon. Binance will launch the US branch of its popular cryptocurrency exchange today, although it will not be made available to residents of New York, Florida, Texas, and 10 other states due to . Reddit and its partners use cookies and similar technologies to provide you with a better experience. Not sure if that is new since this post :/. While New York users still cant participate in the crypto trade on Coinbase.US, it might be added to the platform at a later date if the development team finds a way to bypass the states very restrictive regulations. Although Binance.US complies with most US laws regarding digital money, since it doesnt have this specific license, it cant operate on New York grounds. Latest Cryptocurrency news. Binance is not accessible in some states in the United States, including Texas, New York, or Florida, due to regulatory concerns. Buy on cash app, send to your wallet (effort required), exchange after its in your wallet. Binance.US, a US-based branch of the global cryptocurrency exchange Binance, has proposed a deal to purchase the assets of Voyager Digital, a Canadian cryptocurrency brokerage firm.The deal, if . When you connect to a VPN, it assigns you a new IP address and you appear to be in the permitted region. I'm also from New York so thank you for any advice, Binance.us doesnt work in NY either. Create an account to follow your favorite communities and start taking part in conversations. And here in the United States, particularly in the state of New York the home of Wall Street and the countrys finance capital the state seems to be as strict as ever about granting cryptocurrency exchange platforms the legal status to operate. Cannot operate within a New York zip code. Insert your debit card and enter your PIN to make the payment. Binance.US is available in all states but four: New York, Hawaii, Texas, and Vermont. The license limits companies and people who deal with crypto business in regards to receiving virtual currency (exception is for non-financial purposes), controlling virtual currency on behalf of others, trading crypto as a customer business, and other related activities. Then, New Yorkers will join the crypto market and the state may turn into a booming decentralized space. DFS has not received an application for a license from Binance, the department confirms to Inverse. And quite literally also moving to Jersey in may.. nexo wallet?? A Binance representative said of its structure that the company "is a remote-first organization, and as such does not have traditional buildings or campuses like Apple or Google." Allegedly, the purpose of BitLicense is to make trading cryptocurrencies safer. Binance Can't Keep Its Story Straight on Misplaced $1.8B USDC Binance announced on Friday that its stablecoin has been given the nod by the financial regulatory body in New York. No. Zhaos assertion that Binance.US is fully independent is eerily similar to claims Sam Bankman-Fried made regarding the distinction between FTX US and FTX claims that appear to be false, given that FTX US has filed for bankruptcy, its users have lost access to their funds, and its new CEO has declared that it is, in fact, insolvent, the senators wrote. Binances Chief Strategy Officer Patrick Hillmann told Bloomberg in a recent interview that the exchange hadcompliance gapsin the past, but has since addressed and closed them. How long does it take to send Bitcoin from Cash App to a wallet? Binance.com does not operate in the US, nor do we have US-based customers, however we appreciate the senators request and will provide information to help them better understand why we remain the most trusted platform with users across the globe.. Sign up here. Even if the state hasnt banned digital assets, like some countries have done, including Algeria, Bangladesh, China, Egypt, and Iraq, the introduction of the document has made trading for business purposes very difficult. Binance issued a warning to its users after the Shiba Inu listing, reminding investors that the meme token is a highly speculative asset: "Shib is a relatively new token that poses a higher than normal risk, and as such will be likely subject to high price volatility after the Binance listing." Some of the pros of using the platform include: Trading cryptocurrencies can be very profitable, but it can also be very risky. Why Binance Coin Hit All-Time High (and $86B Valuation - CoinDesk Binance is the worlds biggest crypto exchange, with nearly 60% market share as of mid-February, according to research firm CryptoCompare. We recommend NordVPN. Binance is a popular cryptocurrency exchange launched in 2017. By the way I'm moving to New Jersey lol. They are at the center of crypto space and all its problems, John Griffin, finance professor at University of Texas at Austin, told Bloomberg via email. For both new and existing crypto traders and investors, the Binance or Coinbase question can be difficult to answer. Bybit Suspends USD Payment Services via Bank Transfer Due to Silvergate Bank Technical Issues, Veteran short seller calls Silvergate a 'publicly traded crime scene' and predicts its imminent closure, Ripple Says Recent Supreme Court Ruling Weighs in its Favor in SEC Case, Shiba Inu lead dev drops hint on Shibarium's imminent release. In response to a policy change by Binance, investors from these states are no longer permitted. Rather than change its main exchange to suit U.S. regulations, Binance instead created a separate exchange for U.S. customers, called Binance.US. US regulations have limited access to cryptocurrency trading in the state, making it difficult for traders to open accounts and purchase bitcoin. The name Binance is a mashup of the words 'binary' and 'finance'. Binance is among the largest cryptocurrency exchanges in existence. Also, to clarify, Binance is not banned in the US Binance, like any other regulated exchange without a license to trade in the USA, blocks US citizens from buying crypto on their site. Binance is a crypto-currency exchange that allows trading of digital assets. Until then, youll have to look for alternatives to the largest crypto exchange. KuCoin does not accept American consumers, especially those from Texas. No interest-bearing crypto accounts BlockFI Interest Accounts (BIAs) are no longer offered to new clients who are U.S. persons or persons located in the United States. KuCoin does not expressly ban American citizens from exploiting its services for harmful purposes. Transfer it to any other coin like bitcoin within binance app. Mesidor referred to the states regulations as hostile to cryptocurrency trading. The renowned crypto exchange established its United States office in September 2019. ), Meta has lost consumer trust, favour Alphabet and Amazon for FANG buys right now: Hatem Dhiab, Stay away from the FAANG, but remain invested in tech: Strategist, Darren Sissons discusses the FAANG stocks and Microsoft, Amazon breakout would be a 'really big deal': Fairlead Strategies founder Katie Stockton, Investors to see 'nothing but blowout earnings' for this quarter: Belpointe's David Nelson, McCreath: April CPI data spooks equity markets, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, Read more: Texas Objection to Binance.US-Voyager Deal Cites Link to Binance, Read more: Tether Gets $1 Billion in 24 Hours Amid US Crypto Clampdown, Read more: US Crackdown Seeks to Push Crypto Back to Fringe of Finance.