As the CEO of the largest cryptocurrency exchange Binance Changpeng Zhao (Changpeng Zhao) said, the American division of the platform will be launched before November of this year.
In an interview with Cheddar, Zhao said that American users have always made up a significant part of Binance’s audience, so the exchange will try to launch an American division in the United States as quickly as possible. According to The Block, about 20% of Binance users are traders from the United States.
“I don’t want to promise specific dates, there is still a lot of work ahead, but I would say that we will launch in a month or two,” Zhao said.
To launch the platform in the United States, Binance has entered into a partnership agreement with the American company BAM Trading Services. But even after the launch, users from New York will not be able to trade on the platform, since neither the Binance exchange nor BAM Trading have a BitLicense license.
Zhao also noted that the United States is not in a hurry to issue clear regulatory requirements for cryptocurrency companies. The lack of transparency leads to difficulties in doing business and developing new products.
“Historically, the US has always had clear and transparent regulatory requirements. I hope that everything will become clearer in the cryptocurrency industry as well. On the other hand, the earlier you enter this market, the more solid position you will take. Despite the lack of transparency in the US market, we want to try, ” Zhao said.
He stressed that the US market is one of the largest for any business, including cryptocurrency. The American division of Binance will fully comply with the requirements of regulators.
In June, Binance announced that on September 12, US users will be restricted access to the platform. Almost simultaneously, it became known that the exchange plans to launch the American division of the platform