Binance, the world’s largest cryptocurrency exchange in terms of trading volume, has given a deadline to its users based in the United States asking them to leave the exchange as soon as possible. Binance has sent email notifications to its US customers saying that they have only fourteen days to withdraw their funds from the cryptocurrency exchange.
The world’s most popular crypto exchange is escalating its efforts to clamp down on its users based in the United States in a bid to block them from accessing the trading platform of the exchange. Binance has given the notice through emails to those customers who are identified as the United States users on the cryptocurrency exchange.
In emails, Binance has said that these users now have 14 days for closing their active accounts on the trading platform. They are required to withdraw all of their funds within this deadline. Otherwise, the exchange has said that it will lock their accounts and they won’t be able to access their funds again if they fail to withdraw them within this specified period.
As the email reads:
“Dear user, as we constantly perform periodic sweeps of our existing controls, we noted that you are trying to access Binance while having identified yourself as a US person. Please note that as per our terms of use, we are unable to service US persons. You have 14 days to close all active positions on your account and withdraw all your funds, failing which your account will be locked.”
Binance announced to block the residents of the United States from accessing its trading platform back in 2019. US customers were blocked on Binance.com.
This is not the first time that the cryptocurrency exchange has issued a notice to users in the United States. Prior to this 14-day notice, the cryptocurrency exchange sent a notice of 90 days to the United States users. This notice was also given to users through emails asking them to withdraw their funds.
Recently, Binance filed a defamation lawsuit against Forbes Media and two of its writers over a leaked Tai Chi document which included false and misleading content regarding the cryptocurrency exchange.
