Quote from: pushups44 on June 16, 2019, 03:06:54 AM

Quote from: pooya87 on June 16, 2019, 02:44:00 AM

Binance.com stopping to give services to people from US does NOT mean US banned crypto! how do you even come up with that kind of conclusion?!

the only thing that it shows is that Binance.com does not want to or can not comply with US anti money laundering laws, it is possible that they are laundering money specially with all their tokens that they keep creating out of thin air without them being backed by anything (exactly what Bitfinex does with Tether).

it is also because they are creating a new platform for US citizens only https://www.coindesk.com/binance-says-its-launching-a-us-exchange-with-fincen-registered-partner

Quote from: jlawlercal on June 15, 2019, 07:04:33 PM

We have the right to financial freedom and congress must hear us.

you gain financial freedom when you use a decentralized currency (ie. bitcoin) not a centralized website/service called Binance.

In fairness, the OP has brought up a good point regarding the antiquated laws of the U.S. in relation to crypto. The U.S. has several agencies that are in conflict over the definition and treatment of cryptocurrencies, and they are simultaneously trying to exert pressure into the space. This has the effect of inconveniencing investors as companies must stop servicing Americans. Unclear regulations also prevent new companies from raising the capital they need to compete.

Fortunately, Binance will offer a website specifically for Americans, but it seems unclear when this will be available. There isn't a ban on crypto, but the lack of regulatory clarity is stifling competition.

The issue with a lot of financial regulations is that they're always being applied under the assumption that every market that exists is the same and that there are no new regulations required (if at all) for the emerging markets. Crypto is just one example of markets that only loosely fit into the existing regulations that most countries have established. There are significant differences between crypto and securities, especially considering the ease of transaction present with every single crypto in comparison to traditional securities.

Binance will find a way around these regulations, or at least there's a decent chance that they'll figure out something to allow for the market to continue, but the lack of interest from policymakers to develop new crypto-encompassing regulations at the very least is worrying. There should be nothing stopping them from taking some time out of their day to develop a very minor addition to existing financial rules.