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Binance also hired a new chief compliance officer in January: Noah Perlman joined the exchange after a stint at the Winklevoss-founded Gemini Trust. There have never been reports of malware, data selling, or theft coming directly from Binance. The letter, addressed to Binance.US President Brian Shroder and Binance Chief Executive Officer Changpeng CZ Zhao, citedrecent Reuters reportingthat cast doubt on the extent to which the two entities were really independent of each other. The New York DFS further confirms it "has granted licenses to bitFlyer USA, Coinbase. CEO Binance Grand Cayman KY1-1106 BAM Trading Services, Inc. d/b/a Whether youre asking Why is Binance not available in New York? or Why is Binance.US not available in New York? the answer is the same they dont have a valid BitLicense. While Binance developers managed to make an American version of the platform called Binance.US, its not available in all the states, including New York. Watch: 100 Million Years of Simulated Evolution Shows Earth's Drastic Changes, Can We Rebuild the Spinal Cord? Unfortunately, a lot of misinformation has been spread about our company and we look forward to correcting the record, Binance said in a statement to Bloomberg. Signup for our newsletter to stay in the loop. For more information, please see our Binance.US review 2023: Fees, features and more | Finder Investors can buy, trade, and deposit coins on Binance without geo-restrictions, thanks to the utilization of a VPN. Binance.US Best Crypto Exchange for Crypto Enthusiasts. Binance's stablecoin, Binance USD, has seen around $6 billion of outflows following a U.S. regulatory crackdown on the company that issues the token, according to market tracker CoinGecko. Offers may be subject to change without notice. . Binances Chief Strategy Officer Patrick Hillmann told Bloomberg in a recent interview that the exchange hadcompliance gapsin the past, but has since addressed and closed them. I bought Bitcoin on CashApp, sent it to my Nexo wallet, and exchanged it for BNB. Binance. Binance vs Binance US in 2023: What are the differences? - CaptainAltcoin They don't offer their services to American customers, so Binance can't be found in New York. Binance is a better match for those who are conversant with cryptocurrency terminology and investment opportunities, while Coinbase is designed for simple trading. About Binance.US - company history and background. They need to comply with SEC regulations and suffer marketing and advertisement requirements. Yes, it is permissible to use Binance using a VPN. The Binance logo on a smartphone arranged in the Brooklyn borough of New York, US, on Tuesday, Feb. 14, 2023. Obtaining a BitLicense boosts the status of a cryptocurrency exchanges, but it doesnt come cheap: The application alone costs $5,000, with no guarantee of it actually being issued. The laws in New York state are that if youre engaging in exchange activities, you need to apply for BitLicense, Aaron Wright, a professor at Cardozo School of Law in Manhattan and expert on crypto law, tells Inverse. 4 Best Binance Alternatives for 2023 Benzinga Binance.US didnt return a request seeking comment. Required fields are marked *. State Stimulus Money Might Be Taxable if You Live in These States US regulations have limited access to cryptocurrency trading in the state, making it difficult for traders to open accounts and purchase bitcoin.