American traders received an email from the Binance cryptocurrency exchange, according to which they must withdraw all their crypto assets from the platform within two weeks.
According to the Binance notice, if US users do not have time to withdraw funds from the exchange within the specified timeframe, they will no longer be able to do so, as their account will be blocked. This is not the first time the exchange has asked US traders to stop using their platform. In June, Binance revised its internal policy, according to which access to the exchange for Americans should be limited as early as September 12, 2020. However, unverified US users can still trade on the exchange using VPN services.
“Dear user, during our periodic review, our team discovered that you are trying to access Binance as a US citizen. Please note that due to our terms of use, we are unable to serve US citizens. You have 14 days to close all active trading positions and withdraw your funds from the exchange, as after this period your account will be blocked, ”says Binance in a recent message to users.
Notably, the exchange began sending such notifications following the publication of an article in Forbes that spoke of Binance’s corporate plan, code-named Tai Chi Organization. The authors of the article argued that this plan is specifically designed so that Binance can operate in the US market without regulatory oversight. Later, the management of the exchange filed a lawsuit against Forbes and two journalists for libel and publication of false information that tarnished the reputation of the site.
Recall that this month Binance closed its branches in Uganda and the British island of Jersey due to unprofitability. At the same time, the founder of Binance Changpeng Zhao clarified that the exchange has no problems with local regulatory authorities.
