Can US Citizens Buy Cryptocurrency? Why is Binance Banned in the US?

The rise of internet penetration and the emergence of cutting-edge technology such as blockchain has paved the way for cryptocurrencies which are now widely accepted as a medium of trading, investment, and payment. Cryptocurrencies have seen tremendous growth in the past 4-5 years and generated unbelievable returns for investors and traders. Due to their unregulated and decentralized character, cryptocurrencies are facing legal security across different countries, while some have been partially or fully banned from trading cryptocurrencies. Binance is one such widely used cryptocurrency exchange and token, which has been facing legal issues in several countries including the United States. If you too have questions: can US citizens use Binance, is Binance banned in the US, and how Binance.US is different from Binance global, continue reading this blog. What is Binance? Binance was founded in 2017 by Changpeng Zhao in Hong Kong and currently, it is based in the Cayman Islands. With a trading volume of $76 billion, as of Q2 2022, it is the largest cryptocurrency exchange in the world in terms of trading volume. It supports buying, selling, and trading in more than 600 cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Link, Tezos, Cardano, and Binance. It allows Peer-to-Peer (P2P) transactions through multiple payment options such as credit/debit card, NEFT/IMPS, UPI, Google Pay, and Paytm. BNB (Binance Coin) Binance Coin ...