In June, Binance which is one of the world’s largest cryptocurrency exchanges announced it would close its doors to citizens and residents of the United States. The news did not go down well with a lot of crypto users and core traders in that region. However, Binance promised to open a US-focused exchange in collaboration with BAM. For a some time, people have been asking and thinking which cryptocurrency they will find at this tear rubber cryptocurrency exchange. Months later, Binance finally provided concrete answers through a Medium article. The article focuses on the 30 cryptocurrencies that may be added to Binance US.
Recall that Binance decided to close its doors to residents in the US after it became increasingly difficult to comply with US legislation. It, therefore, decided to open a special exchange for Americans on which only cryptocurrencies that adhere to the legislation can be traded.
30 cryptocurrencies that may be added to Binance US
30 cryptocurrencies that may be added to Binance US are ADA, ATOM, BAT, BCHABC, BNB, BTC, DASH, EOS, ETC, ETH, HOT, IOTA, LINK, LOOM, LTC, MANA, NANO, NEO, PAX, REP, RVN, TUSD, USDC, USDT, FAT, WAVES, XLM, XRP, ZIL, ZRX.
The big names such as bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) are missing. These cryptocurrencies, therefore, do not seem to be part of the new platform. Binance will assess the 30 cryptocurrencies using the “Digital Asset Risk Assessment Framework” to determine, among other things, whether a project adds value or not.
30 cryptocurrencies that may be added to Binance US: The Article
According to the article, I concluded that Binance is doing its best to protect their users against potential abuse and exit scam by some projects. A lot of criteria’s, such as the adoption of a digital risk assessment framework, are being put in place. This framework will help provide the needed transparency in the standard used in listing new tokens and help select genuine and original projects on the blockchain. Apart from the user’s protection, the framework also ensures that all projects listed on the Binance.US platform comply with the legal requirement of the country.
These became necessary since token issuance on the blockchain can be abused due to the lack of regulations. The lack of regulations is the reason a lot of people have fallen victims to fraudulent projects and have lost a fortune. Binance Us will help combat this scam projects and also tackle the financial crimes that come with it.
Binance.Us has a concrete believe that there is more to the blockchains than just the token aspect of it. With Binance.us, Customers can be assured of the opportunity to only get in contact with only high-quality digital assets that add real value to the ecosystem. This is truly a dream come through for true believers of a better world with the blockchain.
However, to achieve these, Binance.us looks into some areas in a project. The five crucial areas are:
- Is the project adding real value, does it solve real-life problems and does the team have a strategy to achieve the solution.
- Will the project token activities on the exchange affect Binance.Us Legal stance with the laws and requirements of the country.
- Does the project have a community, and is there an existing relationship between the projects and the community members?
- Does the project token have a fair market supply that meets the exchange demand?
- Finally, does the platform have a secure environment for a secure transaction and is the project technologically realistic.
To read the Binance medium article on the 30 cryptocurrencies that may be added to Binance US, kindly click on this link.
You can read on the Binance Data leaks, and how to earn free cryptocurrency through Airdrops.
Feel free to tell us your views on this issue through the comment section.