U.S. traders received an email from Binance's crypt exchange that requires them to withdraw all their crypto assets from the platform within two weeks.
According to Binance's notification, if U.S. users do not have time to withdraw within the specified period, they will no longer be able to do so because their account will be blocked. This is not the first time that the Exchange has asked U.S. traders to stop using their platform. In June, Binance revised its domestic policy to restrict U.S. access to the exchange from September 12, 2020. However, U.S. users who have not been verified can still trade on the Exchange using VPN services.
It is noteworthy that the exchange began sending such notifications after the publication of an article in Forbes, which refers to the corporate plan of Binance, codenamed "Tai Chi organization. The authors of the article argued that the plan was designed specifically to enable Binance to operate in the U.S. market without regulatory oversight. Later, the exchange's management sued Forbes and two journalists for slander and the publication of inaccurate information that tarnished the site's reputation.
Recall that this month Binance closed its operations in Uganda and the British island of Jersey due to unprofitability. At the same time, Binance founder Changpeng Zhao specified that the exchange has no problems with local regulatory authorities.