Why exchanges still ban Americans?
Why exchanges still ban Americans?
In the last administration, they essentially waged war against crypto for Americans and many crypto enthusiasts or pioneers decided to even move out of the US. 90% of exchanges , especially the bigger ones ban Americans either voluntarily or by force and pressure from american lawmakers.
But with the new administration that was thought to be more “crypto-friendly” and wants US to be the “crypto capital of the world”, why is it that majority of exchanges still haven’t lifted their ban of American investors. Is anything being done to change this? Is this “American ban” still likely to stay in effect for the indefinite future?
I would never imagine that Americans have a hard time getting access to CEXs than third worlders like me. I also hear you guys get taxed heavily. Guess being in a third world country is a w for once.
It’s obviously not the exchange that bans Americans, but American laws that don’t allow the exchange.