Binance Removes US Resident Ban: Launching In “A Month Or Two”

The Binance CEO is all over the latest cryptocurrency news recently for cofirming that the American branch of the exchange will open within “a month or two.” Now that Binance removes US resident ban, they are ready to announce new big things on the platform.

In an interview with the outlet Cheddar on Thursday, the CEO of Binance Changpeng Zhao spoke about the planned US regulated exchange and noted that “there are a lot of things in flux, but I would say [we’ll launch] in a month or two.”

However, as many best cryptocurrency news sites reported in June, Binance has already communicated to their customers that US residents will be prohibited from using the platform starting September 12. This announcement sparked a lot of concerns as it would leave US traders unable to use the services by Binance.

Now, however, Binance removes US resident ban and the Terms of Use (which were last revised on August 15) suggested that the exchange has softened its stance on the issue – all while removing any mention of prohibition of use for US residents. The document reads:

“3. Prohibition of use
By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.”

When comparing the wording to the one uploaded in June, it is clear that Binance removes US resident ban. The previous text read that “Binance is unable to provide services to any U.S. person,” – which is why the difference is obvious.