This would be a big blow to US customers who have been using the platform for trading cryptocurrencies. While VPNs could still help circumvent the restriction, there is no doubt that active US traders will feel the pinch of this decision. According to The Block, 15% of Binance.com traffic comes from the US.
However, with the restriction taking effect only on September 12th, Binance has ample time to set up its platform Binance.US. Binance CEO Changpeng Zhao tweeted about the decision earlier in the day:
While an established regulatory platform in the US is good news for Binance as well as the larger ecosystem, markets reacted negatively with Binance Coin (BNB) price dropping by around 12%. At the time of writing this post, BNB was trading at $32.37, down 6.62% in the last 24 hours.