In a recent announcement, Binance US has clarified its terms for crypto companies to be able to list their cryptocurrencies on the exchange platform. Currently, Binance is considering 30 cryptocurrencies to list on its U.S. platform. To comply with U.S. law and regulations the exchange will evaluate the blockchain-based coins on 5 points.
The exchange has adopted the Digital Asset Risk Assessment Framework to evaluate the cryptocurrencies that will be available for trading on the platform for U.S. users. Under this framework, the exchange will determine whether a digital asset would affect the Binance US’s ability to comply with the country’s laws, including Anti Money Laundering and Countering Financing of Terrorism. Other points of evaluation include if an asset’s market supply and demand are reasonably fair and would meet Binance US’s quantitative standards. Whether an asset is technically sound in terms of transactions would also be evaluated.
As of now, Binance has not determined the date and time for the launch of its U.S. subsidiary. The exchange partnered with BAM Trading Services to provide its services in the United States. Malta-based exchange hired former Ripple executive Catherine Coley as CEO of Binance US, who is overlooking the launch of the exchange platform. C. Coley in the post wrote that it is the company’s legal and moral obligation to protect users from fraudulent blockchain projects and tackle financial crimes.
