In a blog post on August 18, Binance.US has announced that the Nevada Department of Business and Industry, Financial Institutions Division has granted it a Money Transmitter authorization to the US subsidiary of the worldwide bitcoin exchange. After it, Nevada has become the seventh state to award the exchange, a money transmitter authorization. Granting of licence in Nevada will support the company’s ongoing efforts to strengthen compliance. In a similar development, Binance has been awarded an in-principle operating authorization to operate in Kazakhstan.
Nevada became the 7th state to grant a licence
The other six states of the US where Binance US already has licence are Puerto Rico, Wyoming, Connecticut, Idaho, Rhode Island, and West Virginia. Binance US is now available in 46 states and Puerto Rico and it has some of the lowest average fees for listing more than 120 coins.
Binance US vision and plans
On the announcement, Brian Shroder, CEO of Binance US, remarked they would keep making the necessary efforts to ensure that the company would be functionally compatible across the USA. Their vision is to keep their clients’ assets secure as well as to keep their systems secure and accessible.
In the blog post the company has stated that, in order to be the most client-centric business in the crypto sector, Binance.US would continue to increase its customer support staff and tools. It would further provide low and even nil fees and will introduce new services such as staking with an APY of up to 15%.
Binance is now in Kazakhstan
In another development, Binance announced that the Astana Financial Services Authority [AFSA] has awarded it an in-principle operating licence to operate in Kazakhstan. Now, it can open a digital asset trading platform and provide supervision at the AIFC. Despite the terrible bear market, Binance continued to function and even had development plans when other firms were battling for survival.