Binance CEO, Changpeng Zhao was recently quoted by crypto-media sites on the tentative launch of its US branch. CZ told Cheddar that, while the situation is still “in a flux”, the platform can be expected to go live “in a month or two.”
Numerous media outlets chose to draw a timeline and took the safe side. Since, its already mid-August and he said, “a month or two”, reports around its launch in ‘November’ started spreading like a virus.
Nevertheless, outlets can’t be blamed for the situation as well. Binance U.S. twitter account and Catherine Coley from Binance U.S. re-tweeted Cheddar’s report which iterated the same fact.
Now you know I meant it when I said I was busy. Thanks for your patience! https://t.co/PkJ1U1wYt3
— Catherine Coley (@cryptocoley) August 16, 2019
However, CZ has chastened the crypto media websites for creating news for a November launch. He said,
I never said November… Gotta love how interpretations (or misinterpretations) become “news”.
Moreover, while we haven’t received any further details from him or Catherine on the tentative dates. The flow of things suggests that the launch might be much sooner than November.
The U.S. has put stringent regulation for the operation of Exchanges. While things were unclear in the past, CZ stated that it has improved a lot. He also added,
“We want to be fully compliant. Before we didn’t feel we had the experience to do that but now we have our partners so we want to take this opportunity to explore the market.”
Binance U.S. is expected to add 30 cryptocurrencies, while Binance’s international division currently lists about 150 coins. Trading will be limited to the entire of US, expect New York for now. Binance is yet to procure the BitLicense from NYDFS.
Do you think Binance U.S. will be launched alongside Bakkt? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com