According to the CEO of the largest cryptocurrency exchange Binance Changpeng Zhao, the American division of the site will be launched before November of this year.
In an interview with Cheddar, Zhao said that users from America have always been a significant part of the Binance audience, so the exchange will try to launch the US division in the US as quickly as possible. According to The Block, about 20% of Binance users are US traders.
🗣 “I do not want to promise specific dates, there is still a lot of work ahead, but I would say that we will start in a month or two,” said Zhao.
To launch the platform in the USA, Binance entered into a partnership agreement with the American company BAM Trading Services. But even after launch, users from New York will not be able to trade on the platform, since neither the Binance exchange nor BAM Trading have a BitLicense license.
Zhao also noted that the United States is in no hurry to issue clear regulatory requirements for cryptocurrency companies. Lack of transparency makes it difficult to do business and develop new products.
🗣 “Historically, the US has always had clear and transparent regulatory requirements. I hope that in the cryptocurrency industry everything will become clear. On the other hand, the sooner you enter this market, the more you will take a strong position. Despite the lack of transparency in the US market, we want to try, ”said Zhao.
He emphasized that the US market is one of the largest for any business, including cryptocurrency. Binance’s US division will fully comply with regulatory requirements.