Binance moves to Florida as the US branch of the dominant cryptocurrency exchange says it meets the regulation requirements of the state. In our Binance US news today we are reading more about the latest expansion.
Binance moves to Florida so users can now register on the platform starting today, August 25th. Binance.US has now entered the 38th state where it’s active and Florida is the third-biggest state with an estimated population of 17 million. Binance.US is the cryptocurrency that was first launched in the United States in September 2019 and it has finally received the green light to sign up citizens of Florida to its service.
The exchange says it is now fully registered and regulated crypto and digital asset exchange, which means that Floridians can now purchase, sell and trade-in 40+ digital currencies that the exchange supports. The state represents a potentially lucrative market for the exchange which is still not open to customers in other larger states such as Texas and New York. According to the press release, Biannce.US CEO Catherine Coley was the one responsible for bringing the exchange into the Sunshine State:
“Growing up in Florida, it’s especially rewarding to bring digital assets to the state where I loved watching the Orlando Magic play and seeing space shuttles launch from Cape Canaveral. It is truly a state of dreamers and doers.”
In the recent Binance news we reported that Binance smart chain integrates Band Protocol’s oracles data that supports decentralized applications because as the Defi market cap grows, the demand for reliable data oracles also increases as it connects developers for real-world market prices by lowering transaction fees and accelerating settlements by boosting the scalability in DeFi. Oracles are capable of shielding users from Defi vulnerabilities like account security and the lack of regulation.
Binance also played a key role in the taking down of three suspects in a Ukrainian money laundering scheme as the criminals were able to launder $42 million through exchanges over the past two years. They were eventually arrested in June in connection to two other crimes. The exchange’s security team worked together with RegTech firm TRM to try and identify the transactions between Binance and “Bulletproof Exchanger” which is an exchange with relaxed identity checks that are perfect for criminals that are laundering money.
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