So who wins the battle between Binance and Binance US? Visit Binance US Now Difference between Binance and Binance US: Conclusion However, they had a separate fund for such cases and they refunded all users with the money from that fund. They also suffered a funds loss worth $40 million during a hack in May 2019. For the audits, Binance was examined on 114 criteria across 14 categories, including security policy, asset management, operational security, and information systems.īinance had an apparent leak of up to 60,000 users’ know-your-customer verification data, though it pointed a finger at a third-party service provider at the time. Securityīinance says it’s been awarded an information security accreditation after meeting standards set out by the International Organization for Standardization (ISO). Financial Crimes Enforcement Network ( FinCEN) and comply with all of the state laws in which the proposed venture will be operational. The only difference is that Binance US is actually playing by the financial rules and regulations in the US as they had to register with the U.S. Reduces base trading fees to as low as a 0.02% maker fee and a 0.04% taker fee.īelow is the comprehensive tabular overview of Binance fee structure: Levelīinance US derives its reputation and trust from its mother company. TypeĪ discount when paying trading fees with the BNB coin.Ī discount for holding different amounts of BNB in your account while meeting trade volume requirements. Standard Binance trading fees are 0.1%, but by using Binance native token BNB, you can make considerable reduction to the fees, currently 25% less if you check the option to pay fees in BNB (instead of paying them in the coin you are buying). Later on, Binance added fiat gateways to their main platform as well. Binance US allows fiat deposits unlike what the main Binance platform offered at the time. In order to continue serving American customers, Binance.US opened a separate, smaller exchange called Binance.US in the fall of 2019. Whether the candidate asset is technologically secure to transact and/or realistic to build.Binance was launched in 2017, but in summer 2019, they barred US-based users from its global exchange for regulatory grounds.Whether the candidate asset’s market supply and demand are reasonably fair and likely to meet Binance.US’s quantitative standards and.Whether the candidate asset’s community has a record of reaching compromises and consensuses to move the project forward, and how well the asset’s core team interacts with the asset’s community members.Whether the candidate asset’s core team has a clear strategy to solve a real problem and make the world a more efficient place.Whether trading the candidate asset will affect Binance.US’s ability to comply with applicable legal requirements, including, without limitation, US AML/CFT and securities laws and their implementing regulations.This framework, among other things, examines five areas of each candidate asset: … Binance.US has adopted a Digital Asset Risk Assessment Framework to help select bona fide blockchain projects with a real chance of making the world more efficient, to provide transparency in our listing standards, and to ensure Binance.US’s compliance with applicable legal requirements. More context for these criteria is provided in this Medium article from August. But as it turns out, ZEC was actually evaluated and approved in the same process as all other coins listed on Binance.US, based on the company’s US Digital Asset Risk Assessment Framework. Of course, this was great news for those of us at the Electric Coin Co., the Zcash Foundation and the wider Zcash community - and, indeed, for freedom-loving people everywhere.Īnd we’d love to report that ZEC was listed based on ECC’s bulletproof arguments about the value of privacy, our passion for economic freedom and our incomparable regulatory positioning. Binance.US announced on Wednesday it is listing Zcash (ZEC).
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