Why is Binance blocking US users?

The global Binance platform was launched in 2017 by financial software developer Changpeng Zhao. In 2019, the company shut down access to U.S. users, citing regulatory concerns .

According to Babalola, there are 2 reasons an account can be blocked: uncompleted know-your-customer (KYC) registration and detection of fraudulent activities , which he referred to as “law enforcement agencies related issues”.31 Oca 2022

Why did Binance shut down in the United States? Binance was banned in the United States because it did not comply with U.S. laws and regulations . Exchanges that trade virtual currency derivatives are required to register with the CFTC, which Binance did not do.