Binance launch into the US market with six assets
Yes that right, Binance US (BAM) will not even need scrollbars on the listings page, at least in phase one of its launch, as it goes live with just 6 assets (BTC, ETH, XRP, BCH, LTC & USDT).
Binance’s launch into the US market is via a partnership bit BAM trading services:
“Binance will license its cutting-edge matching engine and wallet technologies to its U.S. partner BAM to launch Binance.US, acknowledged by its recently approved FinCEN [The Financial Crimes Enforcement Network] registration on June 11, 2019,” the exchange said, adding that they’ll share more information “at a later date.”
BNB, which is glaringly not on the list, continues its downtrend and struggling to find a bid. Its seems shorting BNB as soon as margin trading opened was the trade to take!
When @Sicarious_ suggested in June the BNB wasn’t going to be listed on BAM – CZ responded very simply with “FUD”
although this seems to now have been proven to be far from FUD, rather a beacon of truth.
But lets be honest, how could you expect Binance to navigate the crushing regulatory pressure from the US and list all tokens or coins they current service from their Maltese base. The securities laws in the US are water tight and for a good reason and only time will tell if Binance can list more of its portfolio over in the US arm of its operation.
The fact that Binance are making this effort to comply with US regulators is, in my opinion, a good thing for its long term survival. Once you become big enough to be a target for regulators you can’t really become ‘unseen’ again, you have to simple face whats comes and adapt your business plan.
Currently traders are talking of moving trading to Kucoin or Huobi, but how long until these exchanges fall under regulators glares and have to enact the same trader exclusions or mass delistings seen all through the industry.
Maybe this is the year of the DEX !?!
P.s. Probably not 🙁