Binance America, the United States focused offshoot of leading cryptocurrency exchange Binance announced today that it would start accepting the registration of new users from Sept 18.
The news comes shortly after U.S based customers of the famous exchange started to express concerns that the new platform will not launch before the Sept 12 deadline which Binance had announced for geo-blocking people visiting Binance.com from the U.S.
Cryptos Listed on Binance America
Arguably, one of the things that Binance U.S customers looked forward to is a list of cryptocurrencies that they will be able to trade on the new platform especially after the exchange provide a speculative list of 30.
However, today’s announcement revealed that for a start, Binance America would only support deposits and withdrawals of the following cryptocurrencies.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Tether (USDT)
Meanwhile, following the opening on Binance America on Sept 18, the exchange said users would be able to signup, complete the necessary verification, and deposit the accepted cryptocurrencies on the platform.
“Shortly after registration opens, we will provide an update detailing when trading will go live for specific pairs,” today’s announcement stated.
Why Is There No BNB on Binance America?
A sad reality for U.S customers of Binance exchange is the fact that the exchange’s native token, Binance Coin (BNB) is not listed on the new platform.
Understandably, though, the lack of regulatory clarity in the U.S regarding the status of the various kinds of cryptocurrencies may be blamed for the absence of BNB on the new exchange.
Despite the cryptocurrency making it to Binance’s list of 30 for evaluation, the token’s properties namely, its initial use case to conduct an initial coin offering (ICO) and also its strong affiliation with initial exchange offerings (IEOs) on Binance Launchpad means it may not qualify as a non-security under U.S laws.
The United States Securities and Exchanges Commission (SEC) has fined several crypto projects that failed to register their tokens as securities, and also provided a non-binding guide which appeared to back their claims that nearly all such tokens presumably including Binance Coin (BNB) are ‘securities.’
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