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Binance begins to restrict US users ahead of regulatory-compliant exchange launch
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The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized — and public — nature of distributed ledger technology and the encryption process every transaction undergoes.
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It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
Buy Bitcoin, Ethereum, Cardano, Tezos, ChainLink, and more with USD. Link your bank account, add a debit card, or use wire transfer to buy and sell crypto instantly.
A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”
Binance.US has an option to automatically buy and sell crypto using U.S. dollars, using a simple interface that’s similar to what you’ll find on Coinbase and other competitors. Each of these buy/sell transactions charge a 0.5% fee.
Expanding further, once trading is live, straightforward, Binance.US will open withdrawals for all the already deposited and yet to be deposited AXS. So far so good, at the moment, all you have to do is to enroll and deposit AXS tokens while waiting for the rollout.
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This week, Binance announced it is pairing up with BAM Trading Services — which Coindesk notes is FinCEN-registered and has links to Koi Compliance, which counts Binance as an investor — to launch a U.S. exchange “soon.” That will mean, however a level of disruption for some U.S. customers in the meantime.
The most popular cryptocurrencies are currently Bitcoin, Ethereum and Litecoin. These dominate the cryptocurrency market and are highly popular among traders and investors.
Worth noting: Once upon a time, cryptocurrency mining was a potentially lucrative side business for those with the resources to invest in power- and hardware-intensive mining operations.
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