Crypto enthusiasts living in the United States will have no trading options for a many cryptocurrencies when the major crypto exchange Binance becomes unavailable for them in September, according to a report by CryptoPotato on June 14.
The
report draws this conclusion based on the following table, which shows
which cryptocurrencies will still available for U.S.-based traders after
Binance discontinues its U.S. service:
Former Binance options in the U.S. on other crypto exchanges. Source: Goomba’s Twitter
The foregoing exchanges listed are Coinbase, Bittrex, Poloniex, Kraken, HuobiUS, and eToro.
The
report also highlights that, in addition to the cryptocurrencies with
no trading outlet in the U.S.—the all-white rows—there are also a number
of tokens listed on only one exchange after Binance drops off,
including ARK, BTT, IOTA, PIVX, and ZIL.
These
“endangered” exchange tokens, as well as the (temporarily) extinct
tokens, will likely witness a large drop in volume, according to the
report.
However, veteran cryptocurrencies such as XRP, DASH, XLM, ETC, ZRX,
and ZEN should survive Binance’s departure with little issue, since
they are listed on four or more of the aforementioned exchanges.
As recently reported
by Cointelegraph, Binance updated its terms of use on June 14 to
exclude trading on the platform in the U.S., which comes shortly after
its announcement of a U.S.-exclusive fiat-to-crypto exchange.
Binance CEO Changpeng Zhao (CZ) remarked on the recent changes, implying that the restructuring will be useful in the long run:
“Some
short term pains may be necessary for long term gains. And we always
work hard to turn every short term pain into a long term gain.”
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