Cloud Hosting

What could be improved Regulatory concerns

In June 2023, the SEC brought charges against Binance, Binance.US, its founder Changpeng Zhao, and other related crypto entities. "Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law," said SEC Chair Gary Gensler. The accusations, which echo those brought by the CFTC earlier in the year, include:

In a blog post, Binance says it plans to defend itself against the accusations. "Any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staffs action in light of the ample time the Staff has had to conduct their investigation."

Binance.US is not alone in not accepting credit card payments. In fact, it isn't always a good idea to try to buy crypto using a credit card. You may face extra charges from your card issuer, plus you're essentially taking on debt to make a high-risk investment. Nonetheless, this is a slight negative.

Binance.US is not available in Hawaii, New York, Texas, or Vermont. Cryptocurrency traders in these states will need to look for another exchange. Check out our list of top cryptocurrency apps and exchanges for more options.

Binance.US does not have a telephone customer support line. It has a 24/7 live chat function that can give basic assistance and allow users to connect to live agents for more complex inquiries. But users with more specific queries need to fill out a form and wait for an email response. This is an issue for several cryptocurrency exchanges, as customers want more hands-on assistance, especially if theyre trying to report fraud or suspicious activity.

Originally posted here:

Binance.US Review: Pros, Cons, and More - The Motley Fool