Crypto exchange giant Binance is currently looking to expand its token trading pair listings for its US platform by as many as 18 new cryptocurrencies.
Tron and Tezos On Binance Radar for US Crypto Exchange
In a blog post published on Tuesday (December 11, 2019), Binance.US, the American arm of Binance announced that it was exploring new additions to its trading catalog. According to the statement, the crypto exchange platform is considering adding 18 new tokens to the 19 already listed on Binance.US.
These new tokens under consideration include Tron (TRX), Tezos (XTZ), and NEM (XEM). Others include OmiseGo (OMG), Ontology (ONT), Icon (ICX), and Enjin Coin (ENJ) among others.
While Binance.US is pursuing expansion, Huobi’s U.S. partner HBUS announced earlier in the week that it was closing down. According to a previous Bitcoinist report, HBUS will shut down in mid-December due to low demand and liquidity.
Binance Keen to Abide by Regulatory Standards
For Binance.US, compliance with regulatory standards remains paramount. An excerpt from the Binance.US announcement reads:
Our priority to continue exploring more digital asset listings for our users runs in parallel to our efforts to deliver a mobile application and more access to new states we currently do not operate. Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binance.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.
In 2019, crypto exchange operators in the U.S. have been forced to geofence certain tokens owing to a lack of regulatory clarity. Others have elected to move their platforms overseas to jurisdictions with more clear-cut cryptocurrency regulations.
US Regulatory Praise Crypto Oversight Efforts
Amid the clamor for more clarity, U.S. regulatory are praising their crypto oversight efforts. Appearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on Monday (December 10, 2019), Jay Clayton, chairman of the Securities and Exchange Commission (SEC) described the Commission’s approach to crypto regulations as ‘measured, yet proactive.’
Also on Monday, Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN) praised the efforts of U.S. regulators in the crypto space. According to Blanco, robust regulatory measures by FinCEN and others are ensuring better crypto reporting standards across the industry.
Will Binance.US be able to list all 18 tokens under consideration? Let us know in the comments below.
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