Well if you enjoyed trading on the binance platform and are a U.S. residents – that fun is over. News today hit that they will be blocking U.S. residents from trading on the platform come September 12th, i.e, you have 90 days to get in compliance.
You will still be able to withdraw funds after that time though.
The coming margin option make this not a surprise
Recently Binance announced they will be offering margin trading, which basically means you can leverage your holdings to “borrow” money to trade larger positions.
This opens up a whole new can of worms in the world of “securities and trading” so it could be the reason they are showing U.S. customers the door. It’s just more fuel for the SEC to get a desire to come a knocking.
Could be complete coincidence, but I’d be surprised if it didn’t play at least a piece.
Anyway, you can read the full article from coindesk below…