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Binance exchange closes access for users from the United States; Jack Dorsey told about Bitcoin. GlobalCoin test network by Facebook is launched on June 18.
Since September 2019, Binance cryptocurrency exchange closes access to trade for American users. Besides, it will still be possible to move out up to 2BTC without verification, however, the company has the right to request customer’s data at any time. At that, it is not clear what will happen in case of rules violation.
Binance made this decision after analyzing users’ activity. It turned out that 15% of its 40 million customers live in the United States. That is why the exchange decided to open a separate division to work in the country. For that to happen, the platform is now trying to bring its work in balance with the requirements of the US regulatory authorities. A little earlier, customers from the United States and other 27 countries lost an access to over-the-counter trading on the decentralized Binance DEX exchange.
In an interview with Quartz, Jack Dorsey, Twitter CEO and one of the co-founders, spoke about Bitcoin prospects. According to Dorsey, this cryptocurrency can become the Internet native currency. In defense of his own opinion, he advanced four arguments. He noted that Bitcoin development community managed to keep the principles embodied in it.
In addition, Bitcoin stability speaks out in its support. No other cryptocurrency has such a long history of ups and downs, but despite this, it was able to maintain the title of the top cryptocurrency. It was also essential to recall the emission limit. Jack Dorsey noted that a finite coins’ number makes users to be more careful about the resource.
Why Bitcoin is Stable coin
As early as June 18, Facebook test network on Libra blockchain will be announced. It is already known that Apache 2.0 was used for its development; moreover, this project’s investment will amount $ 1 billion. In total, the project will have 100 investors and each of them will invest $ 10 million. The funds will be placed on the accounts of consortium, which will manage GlobalCoin cryptocurrency.
The names of some investors have already become known. These are Stripe, Booking.com and MercadoLibre, Visa, MasterCard, PayPal and Uber. There is no doubt that Facebook would have had enough of its own funds to launch this project. However, the cooperation allows to more successfully resolving many issues. According to Facebook plans, the new cryptocurrency will allow 1.7 billion people to gain access to banking-level services.