Binance.US Opens Crypto Assets Marketplace to Millions of Florida Cryptocurrency Traders

Lucas Cacioli  Aug 25, 2020 11:30  UTC 03:30

2 Min Read

Binance.US has expanded into Florida, crypto traders of the third most populated state within the United States can now register to one of the world’s leading crypto marketplaces.

Binance.US, the United States division of global cryptocurrency exchange Binance, will now open its digital assets marketplace to Florida citizens.

According to the Binance.US website on Aug.24, Binance’s crypto asset platform and exchange will now be available to Florida traders.

Florida was originally one of the 13 states that Binance was unable to launch into last September when it opened its doors to 37 other American states—due to the additional vetting requirements of the Florida state licensure regime.

Chief Executive Officer of Binance.US, Catherine Coley who grew up in Orlando, Florida made a further and more personal announcement on Twitter:

“Florida woman brings crypto marketplace to home state.”

As mentioned above, Florida is the third most populated state in the United States with over 12 million adults in residence, it is also now the 38th state where Binance’s services are available.

SEC Enlist Ciphertrace to Regulate Binance Chain

As recently reported by Blockchain.News, the United States Securities and Exchange Commission (SEC) would like to see CipherTrace analytics firm in charge of regulating Binance Chain, as it declares that the blockchain-based firm is “the only known blockchain forensics and risk intelligence tool that can support the Binance coin (BNB) and all tokens on the Binance network.”

CipherTrace is reputed in the crypto industry for protecting financial institutions from digital assets fraud and cybercrime, among other things. It prides itself on “growing the blockchain economy by making it safe for users, and it is trusted by the government."

Binance Chain is a blockchain created to host the Binance coin “BNB” and it underlies the Binance Dex, which is a decentralized exchange built by Binance, the largest crypto exchange on the market by volume.

The contract was granted to CipherTrace on Aug 1, by the SEC. Though Binance Chain runs on a public blockchain system, the SEC would like to see more regulatory order with transactions, as anti-money laundering is on the rise and regulatory compliance needs to be instilled on the platform for it to operate smoothly.

Image source: Shutterstock

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