The largest cryptocurrency exchange by market volume, Binance has begun to block U.S users from accessing their exchange platform. In July 2019, they announced there will be a restriction to United States users.
However, it was still possible to create an account on Binance for U.S users. There was an option called “I’m not American” when signing up.
But it is getting tough from November 2020. Binance has begun to block users in the U.S by their IP address. So Binance is now started sending emails to the U.S residents
“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.”
Since this restriction only happens on the Binance exchange platform, U.S residents still can use binance.us with limited features. If you’re a U.S resident using the Binance exchange platform, you have to move your assets to Binance.us or to the other U.S supported exchange platforms within 90 days.
According to this chart from The Block, 15% of binance.com’s traffic from the United States.
This chart is based on 2019 analytics. But Binance’s biggest traffic flow is from America. Then why are they restricting their exchange platform to U.S residents?
There are two major reasonable facts.’
1. The Binance’s terms are not in accordance with U.S based users.
2. U.S. government launched twin legal cases against crypto derivatives exchange BitMEX.