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US Residents To Lose Access To Some Altcoins: Report

Stefan by Stefan
15/06/2019
in Altcoin News
Reading Time: 2 mins read
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A new report is in the coming altcoin news for a shocking statement – showing that many crypto enthusiasts living in the United States will have no trading options for a lot of cryptocurrencies. As the report unveils, US residents will lose access to altcoins when the major crypto exchange Binance becomes unavailable for them in September this year.

As the full report shared on CryptoPotato on June 14 shares, there is a full table on which cryptocurrencies will still be available for US residents and traders after Binance (as announced) discontinues its United States services.

Here is the breakdown of what coins will still be available (as things stand) to US customers through US compliant exchanges once @binance stop US based trading in September pic.twitter.com/OSawHb9GX6

— Goomba {C-fork maximalist} (@im_goomba) June 14, 2019

Many best cryptocurrency news sites have re-shared this table, with the foregoing exchanges listed on it being Coinbase, Bittrex, Poloniex, Kraken, HuobiUS and eToro.

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In the report, we can also see that there is also a number of tokens listed on only one exchange after Binance drops off – including the names of altcoins like ARK, BTT, IOTA, PIVX and ZIL. All of these “endangered” exchange tokens – as well as the (temporarily) extinct ones – will be unavailable to US residents and are probably going to witness a large drop in volume, the report shares.

Still, the good thing is that veteran cryptocurrencies including DASH, XRP, XLM, ETC, ZRX and ZEN should survive the Binance departure with little issue – since they are listed on four or more of the aforementioned exchanges.

For those of you who haven’t been following the latest cryptocurrency news, Binance has recently updated its terms of use on June 14 – excluding trading on the platform in the US and therefore restricting access to US residents and traders. The CEO of Binance, Changpeng Zhao, remarked on the changes and implied that they are going to be useful in the long run.

“Some short term pains may be necessary for long term gains. And we always work hard to turn every short term pain into a long term gain,” Zhao said.

The news that US residents will lose access to altcoins from September may hit the market hard, as analysts believe. There could be big drops in the coming months, especially for the coins which are in the red zone and face extinction from US trading.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Tags: binance altcoins usbinance goes downbinance is downbinance list exchangesbinance shutdownbinance shutsfeaturedunited statesunited states altcoinsunited states cryptocurrencyus binance newsus crypto newsus regulationus residents
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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