Media: Binance begins blocking U.S. users

Binance, the cryptocurrency exchange, has begun blocking accounts of US-based users. In an email, the company advised them to withdraw their funds within 90 days, The Block reports.

Until now, American customers of the exchange indicated upon registration that they had no connection to the United States. According to the publication, Binance is now sending emails based on their IP addresses.

“In accordance with regulatory requirements, we cannot provide services to U.S. citizens or residents,” the message says.

The exchange suggested users switch to Binance US or other U.S. platforms.

The company decided to block the accounts after U.S. regulators accused the owners of the cryptocurrency derivatives exchange BitMEX of operating an unregistered trading platform and violating the rules of the Commodity Futures Trading Commission.

Earlier, Binance CEO Changpeng Zhao described the BitMEX crackdown as a ‘disturbing wake-up call’ for the Bitcoin industry and urged its representatives to exercise caution.

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