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Crypto exchange Binance.US to not launch in 13 U.S. states

Wed, 18 Sep 2019, 04:55 am UTC

Cryptocurrency exchange Binance is launching its U.S.-based arm, Binance.US, in most states today, September 18, except 13.

In a blog post detailing the launch, Binance.US said that it will not be available in Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont, and Washington. However, the exchange assured that it will work towards bringing its operations in these states.

For the rest of the states where Binance.US will be launched, new users with a valid government ID and social security number (SSN) will be able to register for the exchange. Speaking of trading fees, the post said:

“For personal accounts, we offer a flat fee of 0.10% per trade. If you buy $100 of BTC, your fee will be $0.10… Corporate accounts will have an adjusted fee schedule given their trading volume.”

As an introductory offer, Binance.US will not charge any trading fees until November 1, 2019.

Binance.US is separate from Binance.com and is operated by BAM Trading Services. User digital assets will be stored in Binance.US wallets.

Initially, U.S. customers will be able to buy listed coins with USD through ACH or wire transfer methods. Binance.US said that they will explore other options based on the demand of our users.

On September 18 at 8 am ET, Binance.US will start accepting inbound transfers of BTC, ETH, XRP, BCH, LTC, USDT, and USD upon appropriate account verification.

“We will accept deposits prior to enabling full trading and will be updating you when liquidity conditions are met allowing for trading to begin on set pairs. Trading on the order books will commence once a sufficient supply of these coins is established on the platform to allow for healthy markets. Support for additional jurisdictions and listings may be added at a later date,” it said.

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