Binance, the world’s largest cryptocurrency exchange by trading volume, has finally given an update on the launch of its exclusive trading platform for US customers. Binance had previously initiated a change in their terms back in June, a change which prohibited US customers from accessing the services of the exchange. The change came into effect as an effort to comply with the SEC’s strict regulatory measures.
Binance had announced its US-exclusive trading platform the same day. Back then, Binance had said that they were inexperienced to take on the US market and wanted to be fully compliant with regulatory bodies. Soon, the Malta-based exchange had announced that Binance will be operating its US exchange through a lesser-known trading partner – BAM Trading Services.
The partnership would see Binance provide its US operator with the license of its matching engine and wallet technologies. Catherine Coley was announced as CEO soon after. Coley was the former head of XRP Institutional Liquidity at Ripple.
What to Expect From https://t.co/AZwoBOy3iq
— Binance.US (@BinanceAmerica) September 6, 2019
According to the post, Binance.US will be a fast, compliant and a secure digital asset marketplace. Here, the word ‘compliant’ is key as Binance had geo-blocked U.S customers from accessing its trading services to better fulfil its regulatory obligations to the SEC.