Binance requires American users to close accounts

by in Cryptocurrency News


Binance began sending notifications to US users demanding that accounts be closed within 14 days.

Dear user, while checking compliance with existing charges, we found that you identified yourself as a US citizen when you access Binance, ”the exchange said in an email. “Please note that due to our terms, we cannot serve US residents. You have 14 days to end all active positions and withdraw all your reserves from your account. Otherwise, your account will be blocked."

Two weeks ago, Binance began sending emails to US inhabitants based on their IP addresses, but then the exchange asked to withdraw assets within 90 days. Binance announced it was ending its service to US users a year ago.

Trending: Grayscale Set a New Record, Raising over $700 M in a Day

The exchange began blocking access to the platform for US residents after Forbes published an article describing Binance's US regulatory evasion scheme.

Last week, Binance sued Forbes for libel in an article. The exchange said the article "contains many false and defamatory statements."