In September 2019, U.S. citizens may lose access to many popular altcoins with Binance restricting trading and the launch of the new Binance U.S. platform.
The move of the crypto exchange to comply with U.S. government regulations regarding crypto trading will see many trading pairs not being available on the Binance U.S. version, as many altcoins have not been greenlit by the U.S. authorities.
“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.”
The purple altcoins will still be available on alternative exchanges marked with a cross while the white ones will soon be entirely unavailable.
It is speculated that the new Binance platform for the U.S. will be launched in a similar fashion to the exchange’s other regional platforms. At first, these offered only very few cryptocurrencies, adding more as the they grew.
How will this affect the crypto industry?
The overall market will probably not be too affected by the restriction of trading pairs for U.S. customers.
However, the cryptocurrencies that are becoming unavailable to U.S. citizens themselves will probably experience a drop. After all, for many coins, the U.S. is one of the largest contributors to the daily trading volume.