Altcoin News: The Analyst Predicts the Fall of BNB and Altcoins Against the Background of the Removal of US Residents from Trading on Binance

June 14, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Binance cryptocurrency exchange changes the rules for providing services, writes CoinDesk.

As the company explained this morning, it analyzes user accounts to ensure that all of them comply with the identification rules. Those who violate these rules will lose the opportunity to make deposits and participate in trading on the platform.

In particular, the updated user agreement of June 14 states: “Binance is unable to provide services to any U.S. person.”

“Binance constantly reviews user accounts to improve our platform security and to comply with global compliance requirements,” the company said, adding: “Accordingly, some users may be required to furnish evidence showing that their account registrations are consistent with Binance’s Terms of Use. Binance regrettably cannot continue to serve users who are found to have violated the Terms of Use and are unable to demonstrate otherwise.”

From September 12, 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.”

Binance traffic for six months, estimated by The Block

On Thursday, it became known that Binance plans to open a regulated crypto exchange in the United States. In the meantime, Bitfinex and Bittrex users complain about increased control over their accounts by trading platforms.

“Binance will transfer American users from Binance.com to Binance US (presumably, 25–30% of the entire user base), said analyst Alex Kruger, adding “If Binance US does not have a BNB, the demand for BNB will fall. In addition, in the described scenario, there may be significant selling pressure on the Altcoins, which are represented on Binance, but will not be listed on Binance US. “

In response to the suggestion of one of the users that Binance would make an effort to save space for its own token on a new exchange, as it did, for example, in Africa, Kruger rightly said:

“There is no SEC in Africa.”

Earlier it was reported that residents of the United States and some other jurisdictions will no longer be able to access Binance DEX through the main interface of the non-custodial exchange.

Author: Marko Vidrih