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I want to use Binance as a US citizen

Binance

Cryptocoins Exchanges / Binance 186 Views

But I don't want to sneak around with a VPN or risk getting withdrawals frozen.

My first thought would be to have a friend register and trade through the friend, however the Binance terms here: https://www.binance.com/en/terms indicate that that's not permissible.

My next thought would be to register an offshore company. I would assume that this is permissible, but might come with a long list of requirements, e.g., having an offshore director.

Can anyone advise on whether this is possible and possibly suggest how to go about it? I would likely go through an attorney to set this up, but I'm just trying to get initial information directly from the source.

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EDIT: The exchanges I currently use are:

  • Binance.US - Has low fees but horrendous liquidity outside of the top few coins and no margin or shorting.
  • Kucoin - Has low fees, but a somewhat unreliable API. It might ultimately be as good or better as the main Binance exchange (liquidity is worse, but fees might be lower with high volume), but I want to be able to spread my risk around as opposed to having too much in one exchange.

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EDIT 2: The point of the question is to set up something that would not get me kicked off the exchange if Binance had full knowledge of what I was doing. Unless I were trying to launder money (I'm not), I don't think I could get in trouble with US authorities. I imagine it's like online gambling where they would never bother going after individual bettors. They would only target exchanges at worst, but again if it's possible to set something up that would adhere to the Binance terms of use and still allow me to trade (I'm still not sure that this is possible - that's why I'm asking), I highly doubt it would be illegal. Said another way, Binance's terms are probably more restrictive than any related laws that apply to me.

submitted by /u/JHogg11
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