While technically that is true, that isn't anywhere close to the whole story.
Binance has been contemplating launching a US based platform for some time.
Similar to what Huobi has done.
This is due to the vast majority of crypto trading coming from the US right now.
Well, with regulators starting to clamp down on exchanges, the timing has never been more clear that now is the time for Binance to make this move.
(Source: https://medium.com/@4CTrading/binance-fud-rebutted-6eb17cb072a3)
First of all, this change won't be going into effect for weeks...
And secondly, even when the change fully goes into effect, people will still be able to access their wallets, they just won't be able to deposit or trade on the exchange any longer.
Then, once the US based platform is up and running they will be able to trade over there if they wish to remain using Binance related products.
The only issue is whether the US based exchange will have as many coins listed as the current Binance does...
My guess is that it won't, hopefully steem is not one of the casualties.
Give then fact that steem never had an ICO likely means it will continue to be listed for US based users as there is much less risk of it being labeled as a security.
However, looking a bit closer it's not nearly as dire as some would make it sound.
Due to cryptocurrencies being able to be used as currencies likely means that many exchanges not based in the US will have to go this route as well.
Stay informed my friends.
-Doc
