Altcoin News: Binance CEO Commented on the News About Disconnecting Traders from the US from the Main Exchange

June 18, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The CEO of the Binance Cryptocurrency Exchange, Changpeng Zhao, this morning answered to users’ questions, in particular regarding news of last week’s disconnection of US traders from the main site Binance.com.

As explained by Zhao, users from the United States will indeed be transferred to a separate platform and will no longer be able to trade or deposit on Binance.com. At the same time, the possibility of withdrawing funds for them is not planned to be limited.

“Binance will never confiscate anyone’s money. This is only possible if we receive a request from law enforcement agencies. In such situations, most often we are not allowed to inform the user about what is happening,” CZ said.

At the same time, he did not rule out the possibility that in jurisdictions where “extremely aggressive restrictions” apply, over time, users may also be disconnected from the main exchange. Residents of most regions have nothing to fear, Zhao assured.

He also confirmed that the American platform will become a separate entity, managed by BAM Trading Services. Binance CEO hopes that it will be launched within three months by the time the updated rules take effect, but “some uncertainty remains.” Also, Binance US will not be covered by the SAFU fund used to cover potential losses of users of the first exchange.

Zhao urged not to cause panic because of the assumptions about which coins may be included in the listing of the new site.

“The bottom line is that the list has not yet been fully approved,” he said, adding that this also applies to the BNB token. “We, of course, would like to add BNB to Binance US, but we cannot know anything for certain until the official announcement.”

Yesterday, Binance announced the launch of a Bitcoin- provided token on its own Binance Chain blockchain.

Author: Marko Vidrih