Binance coin (BNB) nose dives below $20.00 as the exchange reveals details about Binance.US launch

Binance coin lost 50% of its value in two and a half months and became one of the worst-performing coins out of top-20.

Notably, the cost of the proprietary cost of cryptocurrency exchange Binance dropped below $20.00 after the company announced the list of assets to be available on the US-based platform. At the time of writing, BNB/USD is changing hands at $20.21, however, despite the recovery, the coin is still down 5% on a day-on-day basis. THis is the lowest level since May 2019.

On September 11, Binance revealed new details about its platform dedicated to the US-based users. The exchange will start register accounts and accept deposits on September 18. Initially, users will have access to six major coins: Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and USDT. New coins will be added to the list of available instruments in the future.

"After trading launches for this first phase, we will be continually adding to the selection of digital assets available for verified users to deposit and eventually trade on Binance.US. Trading availability of the digital assets we’re exploring will be based on our Digital Asset Risk Assessment Framework,” the company explained on its website.

The New-York residents will not be able to register with Binance.US as of yet. Also, only verified customers will be able to deposit money to their accounts. It means that traders will have to provide their passport or other ID document and the social security number.