Ahead of its intentions to roll out a regulated exchange in the US, Binance is set to block trading for US users.

Watch out, Coinbase: Binance is moving into your home turf.

Known for its adept handling of regulatory landscapes, the cryptocurrency behemoth Binance continues to evolve and grow its global footprint. Binance Never one to shy away from bold moves, Binance is preparing to set up shop in America, with a US-specific platform on the horizon as confirmed by top executives.

Binance Blocks US Customers

As Binance sets its sights on a regulated US exchange, this morning brought the news of a major policy shift. revamped their internal policies Starting in September, American users will be limited to accessing wallets only, with no trading capabilities on Binance.

Updated on July 14, 2019, Binance's policy clearly states:

Binance is now unable to provide its services to any individuals in the United States.

It’s expected that users might circumvent this restriction utilizing a VPN Binance still allows up to a 2BTC daily withdrawal without the KYC process, which might help users dodge the block.

New Platform in the Works

The principal headquarters of Binance is situated in the beautiful Southern European isle of Malta A partnership has been formed between Binance and BAM Trading Services, a firm based in San Francisco, to bring this platform to life.

BAM Trading filed its registration as a Money Services Business with FinCEN, part of the U.S. Treasury, this past Thursday.

BAM Trading's exact details are scarce, but their registered 'direct correspondence' aligns with the Koi Compliance address, related to Koi Trading – an entity Binance Labs invested $3 million in earlier this year.

The collaboration will see BAM Trading manage operations for Binance US, while Binance will provide the core technology like matching engines and wallet systems. Binance founder Zhangpeng Zhao commented:

“Our partner BAM will oversee Binance US operations ensuring full adherence to US regulations.”

This change aligns with Binance's recent announcement that it's restricting access to its much-anticipated decentralized exchange (DEX) for Americans and users from 28 other nations.

As of July 1st, geoblocking kicks in with an aim to align more closely with U.S. SEC standards, preventing any regulatory conflicts over it being classified as an unregistered securities exchange. However, Binance U.S.'s launch date remains unclaimed. DEX Binance is yet again making strides in the crypto market with its expansion into the United States.

Earlier this June, Binance contemplated the development of their distinctive stablecoins, as confirmed by their CFO Wei Zhou, with a public rollout expected shortly thereafter.

While a USD-pegged token isn't part of the plans, the Japanese yen and the euro are designated to be digitized.

Amidst its robust competition like Coinbase, which is progressing stablecoin projects with Circle, Binance contemplates its own stablecoin strategies.

CENTRE Consortium

There's talk of a 'basketcoin' pegged to various stablecoins from CENTRE's lineup, and Facebook's action in this space, looking into physical ATM setups, can’t be ignored. CENTRE consortium , the USD Coin (USDC).

Binance remains a dominant force, well-positioned to introduce compelling stablecoins to the market. And, they're also venturing beyond just tokens; margin trading on Binance.com is impending. GlobalCoin basketcoin After the setback of losing 7,000 BTC earlier this year due to a hack, Binance is not only back on track but gaining speed.

William M. Peaster is a pro writer and editor delving into Ethereum, Dai, and Bitcoin for the cryptoeconomy. His work graces platforms like Blockonomi, Binance Academy, and beyond. A keen observer of smart contracts, DAOs, dApps, and the Lightning Network, and learning Solidity, reach him via Telegram @wmpeaster.

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