How does Binance US operate in New York?

3 answers

• Nov 26, 2021 · 3 years ago
  Binance US operates in New York by adhering to the regulatory framework set by the New York State Department of Financial Services (NYDFS). To operate in New York, Binance US must obtain a BitLicense, which is a specialized license for virtual currency businesses. This license ensures that Binance US complies with strict anti-money laundering (AML) and know-your-customer (KYC) regulations. However, it's important to note that Binance US currently does not offer its full range of services in New York due to certain limitations imposed by the NYDFS.
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• Nov 26, 2021 · 3 years ago
  Operating in New York as a cryptocurrency exchange is no easy feat. Binance US has to navigate through a complex web of regulations and licensing requirements. The New York State Department of Financial Services (NYDFS) has implemented strict guidelines, including the BitLicense, which imposes rigorous compliance measures. Binance US has successfully obtained the necessary licenses and complies with the regulatory framework to provide its services to New York residents. However, due to the stringent nature of the regulations, Binance US may have certain limitations or restrictions in terms of the services it can offer in New York.
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• Nov 26, 2021 · 3 years ago
  Binance US, like other cryptocurrency exchanges, operates in New York under the regulatory oversight of the New York State Department of Financial Services (NYDFS). The NYDFS has implemented the BitLicense, which is a comprehensive licensing framework for virtual currency businesses. Binance US has obtained the necessary licenses and complies with the regulatory requirements to operate in New York. However, it's worth noting that Binance US may have certain limitations or restrictions in terms of the cryptocurrencies it can offer or the services it can provide in New York. For more information on the specific limitations, it's best to refer to Binance US's official website or contact their customer support.
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