Binance has begun blocking user accounts from the United States. In an email, the company advised them to withdraw funds within 90 days, reports The Block.
Until now, American clients of the exchange indicated during registration that they were not Americans. According to the publication, Binance now sends out emails based on their IP addresses.
“We noted your account may be associated with the U.S. due to an IP address you connected from in the past. In-line with regulatory requirements, we are unable to provide services to U.S. citizens or residents. If you are a U.S. citizen or resident, please transfer your assets out of your account within 90 days. You may consider using Binance U.S. or other U.S. platforms,” the email says.
The exchange encouraged users to switch to Binance US or other US platforms.
The company made the decision to block the accounts after American regulators accused the owners of the BitMEX of running an unregistered trading platform and violating the rules of the U.S. Department of Justice and the Commodity Futures Trading Commission.
Recall that Binance CEO Changpeng Zhao called the persecution of BitMEX a “wake-up call” for the bitcoin industry and urged its representatives to be careful.