Binance.us opens for US customers today | Hacker News Reader

Binance.us opens for US customers today

binance.us

I'm a US customer of Binance for a while now. Is the difference between their regular platform and this that you can now add USD to their platform to trade with?

Binance proper has turned off access for US users. You should remove your funds.

Did they not automatically transfer those accounts to this one? Thought they had a .us domain for over a year now.

Nope, it's a completely separate site, you would have to create a new account and move funds over.

On the old site, trading and deposits are disabled for US accounts but you can still withdraw.

Thanks! Never saw an email about this. Just another reason to have everything in your own wallet.

Verification: https://twitter.com/binance/status/1174301770907996161

This doesn't even have 10 coins on it! Hopefully they had more pairs soon.

It’s got enough to make a nice index of the market though. The seven coins available equals 235 billion of the 273 billion dollar crypto total market cap (~86%).

But yes, greatly reduced offerings compared to Binance.com. I assume they will add coins as they can and they have to avoid any coins that could be securities.

Is this a fiat gateway for USDT? (aka Tether, the "stable coin" which is the subject of NYAG’s lawsuit: https://www.theblockcrypto.com/post/20978/ny-attorney-genera...)

EDIT: Ahahahaha. Nope. You can buy USDT but you can't cash out. Note that there is a tab for "USDT Markets", and there is no USD entry in that list. Hotel California-coin.

Their inclusion of BNB seems incredibly risky from a legal PoV

Can you elaborate? I'm not familiar with the legal issues surrounding that coin. Is it because it can be classified as a security?

Yea, IANAL but my understanding is if BNB is a security, then by allowing trading of BNB, Binance.us is an unlicensed security exchange

what was the reason it shutdown for uS customers in the first place?

Most--if not all--coins are just scammy as hell, and the US has resources to fight crypto-related crime.

What states can’t yse it?

If you're in one of the following states (26% of the US) you can't use Binance.com or Binance.us sadly:

Alabama

Alaska

Connecticut

Florida

Georgia

Hawaii

Idaho

Louisiana

New York

North Carolina

Texas

Vermont

Washington

That's 26% of US states, but potentially much more than 26% of the US population (have not computed, but Texas, New York, Florida and, to a lesser extent, Washington all have large populations).

5/10 of the most populous states

2. Texas

4. Florida

5. New York

9. Georgia

10. North Carolina

A quick check to https://en.wikipedia.org/wiki/List_of_states_and_territories... gave me ~38% of the US population

Huh, why is that? I am in one of the affected states

Reply on news.ycombinator.com