Binance.US Now Supports Dogecoin and Looks to Expand Further
By Luke Flowers – Cryptocurrency Speculator
According to an Oct. 24 blog post, major crypto exchange Binance’s US branch, Binance.US is now looking to include support for Dogecoin (DOGE). Users will soon be able to buy and sell cryptocurrency native to this chain via a Binance platform.
This means that users of the crypto exchange will be able to trade DOGE/USDT pairs starting at 09:00 p.m. EST on Oct. 24, though they can already deposit the coin ahead of trading. Withdrawals will come after the launch of trading for those that seek to buy crypto on the chain.
On Sept. 24, Binance.US was launched and offered to support crypto-to-crypto and fiat-to-crypto trading pairs. These trading pairs included well-known currencies such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Binance Coin (BNB), Tether (USDT) and Litecoin (LTC), allowing users to buy Cryptocurrency that runs on the major blockchains.
Also, on Sept. 24th, Binance.US announced five more cryptocurrency deposits, including Basic Attention Token (BAT), Cardano (ADA), Stellar (XLM), 0x (ZRX) and Ethereum Classic (ETC), to open trading, support and liquidity for these coins. You can buy and sell cryptocurrency on these chains on the standard Binance exchange, but the US has proved a difficult location to expand for crypto related businesses.
Binance.US then opened account registration and verification services for Puerto Rican residents. Binance.US also announced that it holds its U.S. dollar deposits in pooled custodial accounts at different banks that the Federal Deposit Insurance Corporation insures. The FDIC is a US government agency which backs the deposits of citizens in bank accounts. Many crypto related businesses have come under fire when looking at where they choose to hold users’ funds.
As recently reported, Binance.US had exceeded $10 million in daily traded volume.
It has also been reported that Binance is looking to grow its token offering with the listing of Blockstack (STX), which is the first digital token offering that the U.S. Securities and Exchange Commission permitted. The project is also looking to run a $23 million investment round under Regulation A+. This could encourage many to buy and sell Bitcoin for a token that has passed the SEC’s requirements.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards