Assets on the Binance cryptocurrency exchange
American traders have received an email from Binance's crypt exchange, according to which they must withdraw all their crypto assets from the platform within two weeks.
According to Binance's notification, if U.S. users do not have time to withdraw from the exchange within the specified period, they will no longer be able to do so because their account will be blocked. This is not the first time that the management of the exchange has asked US traders to stop using their platform. In June, Binance revised its internal policy that access to the Exchange for Americans should be restricted as of 12 September 2020. However, U.S. users who have not been verified can still trade on the Exchange using VPN services.
The main thing is that the exchange started sending such notifications after publishing an article in Forbes, which refers to Binance's corporate plan codenamed "Tai Chi Organization". The article argued that the plan was designed to enable Binance to operate in the US market without regulatory oversight. Exchange management later sued Forbes and two journalists for defamation and publication of misleading information that tarnished the reputation of the site.
However, this month Binance closed its operations in Uganda and the British island of Jersey due to unprofitability. Moreover, the Chief Executive Officer of Binance Changpeng Zhao said that the exchange has no problems with local regulatory authorities.