In most cases your verification will be approved instantly and at most can take 1-2 days. To complete this step you will need your photo ID readily available to take pictures of both the front and back sides of the document. This is an unavoidable legal requirement for almost all exchanges in Colombia. The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support.Īlso it's important to note that you can always sign up to other exchanges later.Īfter signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. Join us on Telegram and follow us on Google News.Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies.Įxchanges will differ by fees, security, payment methods, and other features, so explore the "info" tab on the exchanges listed above to find which one is the right fit for you. Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.Ĭan’t wait? Get our news the fastest way possible. Subscribe to Blockworks’ free newsletter now. Get the day’s top crypto news and insights delivered to your email every evening. ![]() “The company currently operates in 45 jurisdictions across the United States and is working closely with the remaining state regulatory agencies to secure approvals, so it can offer its services across all 50 states and territories,” Binance.US said in a statement. Majalya and a spokesperson for Binance.US could not provide information about when the remaining five states might get approval. “While it’s too soon to make demand projections for Louisiana, we expect that our low fees and differentiated user experience will continue to attract loyal customers across the country.” “We’ve seen strong demand in Connecticut and elsewhere thus far in 2022,” Majalya said. Given that other US-based centralized exchanges have similar requirements, at least in recent years, demand for Binance.US remains strong, Majalya said. In Georgia, Binance.US had to secure a seller of payment instruments license from the Georgia Department of Banking and Finance.ĭue to increasing regulatory constraints, Binance first banned US customers in September 2019 and announced the creation of Binance.US through a partnership with BAM Trading Services.Ĭustomers in approved states had to complete more rigorous know your customer (KYC) rules to access Binance.US than Binance previously required, including having to upload photos of a valid ID and provide social security numbers. In Connecticut, where Binance.US launched services in January, the exchange needed to obtain a money transmission license from the Connecticut Department of Banking. ![]() The hurdles to launch across the US have been substantial, with each US state requiring different licenses to be issued by various state regulators. In March, Wyoming became the latest state to be removed from Binance.US’ restricted list. “We’re thrilled to offer our services in Louisiana, and like other states, look forward to working with state officials to demonstrate our compliance first mindset.” “Each state, including Louisiana, has a unique set of requirements, and we are working to ensure that we will ultimately be able to operate in all 50 states,” said Sidney Majalya, chief risk officer of Binance.US. Residents of Hawaii, Idaho, New York, Texas and Vermont will have to continue to wait to access Binance.US services. Three years after the founding of Binance.US, customers in Louisiana can now access the exchange to buy, sell and trade cryptocurrencies. Binance.US, the United States partner company of headquarter-less crypto exchange Binance, is now available in 45 US states.
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