Binance Crypto Exchange #1 Starts Blocking USA Visitors

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Today the crypto world is shocked to hear numerous reports from the USA traders stating that the Binance started to block USA accounts

Funds are safe?

At the moment of this publication, most of the US citizens are still able to access their account by cheating the “Are You from the USA” question upon registration and login.

The warning message appears when you try to log in with a US based IP.

Notice that if you lie about your citizenship this will be considered as a Terms of Use breach, which can potentially lead to account suspension.

They did warn US

Back in the July 2019 Binance have updated their terms of use stating that Binance “is unable to provide services to any U.S. person.” however currently it’s updated with some confusing paragraph explaining that each user should consult with their local laws, and the Binance servers right to stop providing services.

Last warning?

On Sunday, users reported that another warning was sent to the US IP Binance users stating:

“We noted your account may be associated with the U.S. due to an IP address you connected from in the past. In-line with regulatory requirements, we are unable to provide services to U.S. citizens or residents.”

Possible causes

Tai-Chi Entity and Binance
Leaked slideshow Forbes

Recently Forbs have published a report, accusing Binance in a regulations fraud, using an “elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit from crypto investors in the United States.

Opinion

To all of my gun slinging, cowboy hat wearing and whiskey sipping brothers on a free lands of America, I suggest withdrawing your funds from Binance to avoid possible problems in the future. Who knows, one day you might be unable to log in even with a VPN and your funds will remain safe forever in the Binance vaults.

Written by John B