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Binance to Stop Serving US Traders Following Announcement of US-Dedicated Platform

Major crypto exchange Binance announced today, June 14, that it has updated its terms of use, which notably includes a restriction of services to United States-based individual and corporate traders. The restriction follows yesterday’s news that the company is launching a separate, fully regulated fiat-to-crypto platform for the U.S. market.

Today’s announcement provides a timeline for the new terms to come into effect, specifying that:

“After 90 days, effective on 2019/09/12 [12th September 2019], users who are not in accordance with Binance’s Terms of Use will continue to have access to their wallets and funds, but will no longer be able to trade or deposit on Binance.com.”

While the use of a virtual private network could ostensibly allow U.S. users to circumvent the new…

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