In line with a recent report published by ‘CryptoPotato’, crypto traders within United States will be banned for accessing several cryptocurrencies once after the leading cryptocurrency exchange ‘Binance’ becomes unavailable for them, starting from September.
The report outlines this conclusion based upon the following table, that shows that cryptocurrencies will still be yet available for U.S.-based traders after Binance terminates its services for U.S. users:
The preceding exchanges ‘listed‘ are Coinbase, Bittrex, Poloniex, Kraken, HuobiUS as well as eToro.
The report conjointly highlights that, additionally to the cryptocurrencies with no trading outlet within the U.S. – the all-white rows—there are also a variety of tokens listed on only one exchange once after ‘Binance‘ drops off, together with ARK, BTT, IOTA, PIVX, and ZIL.
These “endangered” exchange tokens, along with the [temporarily] extinct tokens, will possibly be witnessing a major drop in volumes, as per the report published.
Moreover, several other cryptocurrencies like XRP, DASH, XLM, ETC, ZRX, and ZEN ought to survive Binance’ departure with very little issue, since they’re listed on 4 or a more of the above mentioned exchanges.
Binance chief executive officer named ‘Changpeng Zhao’ [CZ] stated his views on the recent changes, implying that this restructuring will be very useful within the long-run.
“Some short run pains are necessary for the long-run gains. And we always work hard to turn the short-term pain into the long-run gains.”