Today’s announcement provides a timeline for the new terms to come into effect, specifying that:
In a tweet published yesterday, Binance CEO Changpeng Zhao (CZ) said:
“Some short term pains may be necessary for long term gains. And we always work hard to turn every short term pain into a long term gain.”
Earlier this month, it was reported that the decentralized exchange (DEX) developed by Binance will use geo-blocking to restrict website access to users in 29 countries, including the U.S.
Zhao revealed in September 2018 that the company intends to launch five to ten fiat-to-crypto exchanges — two per continent within one year.
The firm has launched fiat-crypto platforms in Uganda, Singapore and Jersey, with support for a limited range of cryptocurrencies.