Following the news that Binance.com is shutting its door to U.S customers and nearly at the same time launching a U.S subsidiary, the value of the BNB recorded a slight loss on the day, though the top ten cryptocurrencies are in a mixed state.
Major cryptocurrency exchange Binance confirmed it will enter the USA market via partnership with a local company, BAM Trading Services.
The crackdown comes just one day after the announcement that Binance will be launching an independent exchange for U.S. traders, which will partner with BAM Trading Services, a FinCEN approved company. Huobi then started licensing its technology and brand to a us -based company HBUS (later rebranded to Huobi), similar to Binance's current plans for the USA, having partnered with BAM Trading Services Inc - an unknown money services business listed in San Francisco. "And we always work hard to turn every short term pain into a long term gain".
Binance follows Bitfinex and BitMEX, which both started blocking US customers in late 2017 as a result of the challenging regulatory climate.
Meanwhile, BNB, which is 7th largest coin by market capitalization, registered the largest drop among the major coins in the past 24 hours as the cryptoverse is discussing how the expansion in the USA will affect the coin.