Binance is back in action for U.S. investors. On August 9th, the exchange revealed several details on listings for the upcoming American exchange. The announcement, written by Binance U.S. CEO Catherine Coley, lists several coins that are under examination and outlines the framework that the exchange will use to add new coins.
Binance U.S. plans to use a Digital Asset Risk Framework to ensure that its listings comply with American regulations. This means that the exchange will take each token’s qualities, including its securities status, into consideration. Several other factors will additionally allow Binance U.S. to select “bona fide blockchain projects” that deserve a listing.
Right now, the exchange has 30 cryptocurrencies under consideration, including leading coins like Bitcoin, XRP, Ethereum, Bitcoin Cash, EOS, and Litecoin. The exchange is also inspecting other major coins, such as Stellar Lumens, Ethereum Classic, Cardano (ADA), Dash, Nano, NEO, IOTA, VeChainThor, Waves, Zilliqa, Cosmos (ATOM), and Holochain (HOT).
Four stablecoins are also under examination: Tether, Paxos, TrueUSD, and USD Coin. A few project-specific tokens are also on the list, including Decentraland’s MANA token, Augur’s REP token, Brave’s BAT token, and Chainlink’s LINK token. Finally, they are also considering a few tokens that are closely associated with Binance, such as Loom, Ravencoin, and, of course, Binance Coin (BNB).
Binance U.S.’s announcement doesn’t confirm that these tokens will be listed – only that they are under consideration. Binance CEO Changpeng Zhao wrote on Twitter: “while I hear this list is not definitive, it is the most up-to-date current work in progress.” Still, this is much-needed news for American investors, who have been told very little about the transition until now.
Binance announced its decision to bar American investors from the main platform in June. At roughly the same time, it also revealed its plans to open a U.S. version of its exchange in partnership with BAM Trading Assets. It seems likely that more information will be revealed over the next few weeks – American users will not be able to trade on Binance’s main exchange after September 12, 2019.