12.06.2021

Binance.US Opens Account Registration for Puerto Rico Residents

According to an official announcement published on Sept. 30, Puerto Rico residents have the same levels of access as U.S. residents from those states already permitted to use the platform.

The United States-based branch of major cryptocurrency exchange Binance, “Binance.US”, opened account registration and verification services for residents of Puerto Rico.

The launch of Binance.US

As reported, Binance.US went live on Sept. 24, offering 13 fiat-to-crypto and crypto-to-crypto trading pairs.

These include major cryptocurrencies such as Bitcoin, Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and the Tether (USDT) stablecoin.

Just as with its U.S. state launch, Binance.US is offering Puerto Rican users zero trading fees until Nov. 1.

Know Your Customer measures stipulate that all users of Binance.US are required to provide a valid government ID and their social security number to complete the account registration.

As reported last fall, crypto traders living in the U.S. lost trading options for multiple altcoins when Binance withdrew services for them ahead of launching its U.S.-dedicated platform.

Recent Binance developments

Binance has recently listed Tezos (XTZ), the 18th top cryptocurrency by market capitalization, on its flagship  platform, enabling three new trading pairs with BTC, BNB and USDT.

On Sept. 19, Binance confirmed its plans to launch its over-the-counter trading platform for Chinese yuan in October.

Binance Becomes Tron’s Top ‘Super Representative’, Adds TRX Staking Support

Major cryptocurrency exchange Binance has become the highest-ranked “Super Representative” (SR) in the Tron (TRX) ecosystem.

According to Tronscan’s data on Sept. 30, Binance acquired over 12 billion votes for the top-spot ranking. Blockchain community Sesameseed.org is now the second-largest SR, Tron-based BeatzCoin – in third place.

Binance announces TRX staking support

On Sept. 30, Binance revealed that it would add support for TRX staking starting Oct. 1, with initial estimation of rewards to be calculated through Nov. 1 and subsequently distributed before Nov. 5. The system will then continue on the same basis monthly, per Binance’s website.

The development follows the exchange’s recent launch of dedicated staking services last week, which enable Binance users to deposit their token holdings and earn staking rewards, but without having to set up their own nodes to fulfill minimum staking amounts and/or time lengths.

Binance freezes 12B TRX, taking ⅙ supply out of circulation

BeatzCoin COO Misha Lederman noted in a tweet on Sept. 29 that Binance has essentially frozen 12 billion TRX, taking 1/6 of the coin’s supply out of circulation.

The exchange’s ascendancy to top SR has sparked avid debate amid a small group of crypto Twitterers.

While Lederman appears to view Binance’s prominent position in the ecosystem and token lock-up as a potentially bullish development for TRX’s price, others have expressed some concern as to the implications of a leading industry player “buying-out” the top spot.

At press time, TRX is 14th largest cryptocurrency by market capitalization, seeing a price hike of almost 6.5% on the day, according to Coin360 data.

Earlier this month, Tron founder and CEO Justin Sun announced a new plan for TRON’s proof-of-stake mechanism focused on the promotion of “a fair, decentralized distribution of staking revenues” to bolster user participation and engagement from industry players such as exchanges, wallets and partners.

The CEO has also revealed plans to imminently reschedule his highly-anticipated charity lunch with Berkshire Hathaway chairman and arch Bitcoin skeptic Warren Buffett.

Sun had won a charity auction on eBay in June to have lunch with Buffett and his own choice of guests, with a winning bid of $4,567,888 – the highest bid in the event’s 20-year history. Yet just days before the high-profile event he was forced to postpone for medical reasons.

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