About time.
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Sure would be nice to buy directly buy what I want without having to make trades to get it.
Hope this comes soon and hope ADA is on the list.
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I dont believe this, it will be highly unlikely - one thing is for sure, you wont be able ti withdraw in USD, so it might be some tether like scheme. Also I prefer binance not get involved in any FIAT pairs, that means that binance is safer, and are free to move anywhere. Enter the FIAT system, and they add risk to their exchange since they enter a area they have no control over + and that leverage will be used against them to provide information on their customers eventually.
I did some research, and yeah it is not even speculation… I do see that it is a public statement, there is an article on bloomberg… We will see what happens… But just think about this, the money-laundering issue here is huge. Of course it is not really an issue, but it is from the US regulators perspectives and they have leverage since they can ban countries from partaking in their international settlement systems that is done in USD… Which is why they have a huge trouble finding anyone who wants them…
But awesome if they get it figured, I wouldn’t even care if I could withdraw or actually exchange, a trading pair would be fine… But they have to be careful they are not risking their entire exchange, should something blow up in the future.
Why do you say that?
Tether don’t let you withdraw because they don’t have the money.
Even if tether had the money, they wouldn’t let you withdraw, or at the very least it would be a complicated process.
Why do you think there are not lots of these services? That is because there are very tight regulations for banks to comply with, and it has nothing to do with Malta, it has to do with US regulations, when their banks are operating with USD… and yes a country could choose not to comply with that, but they dont, since that country would be banned from international USD settlement systems… Thats why the Swiss caved in…
Coinbase does, but they are in bed with the goverment… The IRS has access to their customer information, and aside from the IRS, there are probably a ton of things they have to comply with… You cant sign up for coinbase, without filling in all your information, social security, passport etc.
So coinbase is at the fate of their bank and regulators in either their country, or the US… Shut down that account, and coinbase is down and done… That is why I liked binance, since it was all in crypto-to-crypto, they didnt have any “risk” if one country makes them illegal or causes trouble, they can easily move, because no funds can be frozen or withheld.
Now that will change, governments will say comply or we freeze your funds, and they will comply, just like coinbase did when the IRS wanted them to hand over information.
Now one could say that it doesn’t matter if you dont have anything to hide and not doing anything illegal, I can agree with that, but I liked the idea that we had a exchange that was out of government hands - Because it adds risk.
and we might all be affected by this, regardless if we want to use USD pairs or withdraw/deposit in FIAT… Perhaps we all have to engage in KYC when we sign up for Binance, which we dont have to now, at least if you dont need the 2 BTC 24/hour limit.
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