New legislation may make it possible for Binance US, the American branch of crypto exchange Binance, to open its doors to all traders in every state by next year.
According to a Sept. 15 tweet from Binance U.S. CEO Catherine Coley, the digital asset marketplace has just launched in Georgia, allowing users to buy, trade, and earn digital assets.
Thrilled @BinanceUS launches in Georgia today - our 40th state!
Atlanta means so much to me, a 1996 @kerristrug96 fangirl obsessed with the Olympics. What can I say, weve come a long way! pic.twitter.com/F54GibkiKT
— Catherine Coley (@cryptocoley) September 15, 2020
We added our 40th state today just a week shy of our one-year anniversary, stated the official Binance USaccount. 100% coverage is our goal.
The addition of Georgia coupled with yesterdays announcement that Binance U.S. would be operating in Alabama means the exchange can currently be used in every U.S. state with the exception of Alaska, Connecticut, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont, and Washington. According to data from the U.S. Census Bureau, roughly 61 million people over the age of 18 reside in those states as of 2019.
However, a recent announcement from an organization of state regulators may make it easier for firms like Binance US to bypass licensing in these individual states, and instead apply for the remainder with a single exam. The Conference of State Bank Supervisors has set out guidelines for payments firms already doing business in 40 or more states to enable them to get a single license to operate throughout the coun ...