It’s so amazing to know that a lot of activities are going on with technologies that have not even achieved mainstream status. Since the inception of cryptocurrencies, it’s been one type of crypto news another about the technology. As the crypto community keeps striving to make cryptocurrency an accepted mainstream means of payment, as an alternative to fiat currencies and other traditional payment methods, some companies within the community are making plans to lock erring crypto members out of their network for failing to abide by their operational policies.
The revision which took place on June 14, 2019, had the site updated to say the exchange would be unable to provide crypto exchange services to people from the U.S. It is quite interesting to know that Binance had announced earlier that they were spreading their tentacles to deliver full services to the U.S., and they also said they were going to strengthen the security and compliance practices on the platform through its partnership with IdentityMind, a KYC/AML solutions provider, and popular software provider Chainalysis.
We are hopeful that Binance will come out to give some more info about the restrictions, and perhaps enlighten the crypto community about the ways their policies were flouted by users of the platform.