Binance, the largest cryptocurrency exchange, again clamps down on customers based in the U.S. Binance sending emails to its U.S. customers, asking them to close their accounts. The exchange has taken this step as they are not having any regulatory standing in the country. The U.S. customers are having 14 days to close their account with the exchange. As per the email sent to the U.S. users, Binance stated: “Please note that as per our terms of use, we are unable to service US persons. You have 14 days to close all active positions on your account and withdraw all your funds, failing which your account will be locked.” Binance Sending Emails to the U.S.-Associated IP Addresses Even though Binance sending emails to U.S. users to close their accounts recently, this is not the first time that the exchange has been harsh on its user base in the U.S. Back in July 2019, the exchange gave 90 days to U.S. users to prove that they haven’t violated any of its terms and services. The exchange has given this warning by stating that anyone who fails to do so will lose their access to the exchange’s service. Binance has started sending emails to users with the U.S.-associated IP address by the starting of this month. Binance Suing Forbes and Two Journalist This news of Binance sending emails is coming shortly after the firm has announced to sue Forbes and two of its journalists. Forbes has published an article targeting Binance and the exchange is suing them for defamation. Although Binance has already denied most of the claims that Forbes has made in its article, it is still going to affect the goodwill of the exchange. It is yet to be seen how the customers are going to react to this recent clampdown. It is also revealed that the U.S. users can still access the services if they do not show them as Americans. This is possible because the exchange does not use a strict KYC procedure.
The post Binance Sending Emails to U.S. Customers to Close Their Accounts appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
