Binance US Launching in Matter of Weeks As Company Reveals Strict KYC Requirements

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Binance says the launch of its US-based crypto exchange is on the horizon.

In a new blog post, the company says Binance US will go live in the “coming weeks.” The exchange will have strict know-your-customer (KYC) requirements for its users.

“KYC will be required for trading on Binance.US. Setting up a new account will require a valid government ID (driver’s license or passport) and social security number (SSN) to register for access to the Binance.US marketplace, available in most US states.

We are finalizing the list of states where we will start to roll out service to users and will release this list before we begin onboarding customers.”

Binance says it plans to launch iOS and Android apps for the exchange, but they won’t be available on day one.

To make its entrance into the US a reality, Binance has partnered with a firm called BAM Trading Services, which will operate the new US-based exchange.

BAM hired Ripple’s former head of XRP institutional liquidity, Catherine Coley, as its CEO. Coley’s primary role is to manage the launch of the new digital asset marketplace.

Binance says it’s considering 30 crypto assets for Binance US. Five coins in the top 20 by market cap are absent from the list: Bitcoin SV, Monero, Tron, LEO and Tezos.