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Big news from Capitol Hill! The U.S. House has approved the FIT21 Bill with strong Democratic support, providing regulatory clarity and consumer protections for the digital asset ecosystem. Now, the bill heads to the Senate, where its fate is uncertain. What are your thoughts on this development, and how do you think the Senate will respond? Let's discuss the future of crypto regulation!
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FIT21 Crypto Regulation Bill Advances in US House, Faces Uncertain Future in the SenateAccording to Cointelegraph: The US House of Representatives has voted in favor of the Financial Innovation and Technology for the 21st Century Act (FIT21), aimed at clarifying the rules of securities and commodities regulators in overseeing cryptocurrencies. The next step for the bill is a potentially challenging path through the US Senate, where it has neither a companion bill nor a set timeline for action. The FIT21 bill, which saw 71 Democrats and 208 Republicans vote in favor, could face robust opposition in the Senate, considering the presence of prominent crypto critics like Senator Elizabeth Warren. Post the Senate Review, if approved, the bill would proceed to President Biden's desk. The President on May 22 expressed his administration's disapproval of the bill, though it didn't specify his vetoing intention. While Coinbase CEO, Brian Armstrong, celebrated this development as a "total victory", crypto-focused lawyer Gabriel Shapiro countered by arguing that the FIT21 could still grant the SEC "considerable power". The bill, if passed, will primarily place the control of cryptocurrencies under the Commodity Futures Trading Commission (CFTC), viewed as a more lax regulator than the SEC.

FIT21 Crypto Regulation Bill Advances in US House, Faces Uncertain Future in the Senate

According to Cointelegraph: The US House of Representatives has voted in favor of the Financial Innovation and Technology for the 21st Century Act (FIT21), aimed at clarifying the rules of securities and commodities regulators in overseeing cryptocurrencies. The next step for the bill is a potentially challenging path through the US Senate, where it has neither a companion bill nor a set timeline for action.

The FIT21 bill, which saw 71 Democrats and 208 Republicans vote in favor, could face robust opposition in the Senate, considering the presence of prominent crypto critics like Senator Elizabeth Warren. Post the Senate Review, if approved, the bill would proceed to President Biden's desk. The President on May 22 expressed his administration's disapproval of the bill, though it didn't specify his vetoing intention.

While Coinbase CEO, Brian Armstrong, celebrated this development as a "total victory", crypto-focused lawyer Gabriel Shapiro countered by arguing that the FIT21 could still grant the SEC "considerable power". The bill, if passed, will primarily place the control of cryptocurrencies under the Commodity Futures Trading Commission (CFTC), viewed as a more lax regulator than the SEC.
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Your Guide to Binance Deposit/Withdrawal
Key Takeaways

Binance offers various deposit options, including Binance P2P, buying crypto with cash, crypto deposits, and bank transfers.

To withdraw from Binance, users can choose between crypto and fiat withdrawals, each requiring specific steps and security verifications.

Always double-check the entered details, such as the chosen network for deposits and bank details for withdrawals, to avoid the accidental loss of funds.

Introduction

When it comes to crypto, depositing and withdrawing funds can be confusing. Many users find it difficult to understand the different deposit/withdrawal options and security steps involved, often leading to the accidental loss of funds.

In this article, we will walk through the deposit/withdrawal options available on Binance. You will learn how to deposit via Binance P2P, make a bank deposit, deposit crypto, and buy crypto with cash. In addition, you will know how to seamlessly withdraw both fiat and crypto from Binance.

How to Deposit to Binance?

Binance allows users to deposit their funds via Binance P2P, the purchase of crypto with cash, crypto deposits, and bank account deposits. Let’s take a look at how each method works.

How to deposit via Binance P2P:

1. Access your Binance account, click [Deposit], and select the [P2P Trading] option.

2. Select the cryptocurrency you want to buy, the currency you will purchase it with, and the payment method you will be using.

3. Browse through the list of available sellers, checking their rates and terms.

4. Select a seller and follow the provided instructions to make the payment through the agreed-upon method.

5. After the seller confirms receipt of payment, the cryptocurrency will be released to your Binance wallet.

How to buy crypto with cash on Binance:

1. Access your Binance account, click [Deposit], and select [Buy Crypto].

2. Specify the cryptocurrency you wish to purchase, the currency you will buy it with, and the amount you want to spend.

3. Choose from various payment options, such as credit/debit cards or third-party payment providers.

4. If you want to deposit with a credit/debit card, you will need to add your card details by clicking on [Add New Card] and filling out the necessary information.

5. Then, follow the prompts to complete the transaction. The purchased crypto will be credited to your Binance wallet.

How to deposit crypto to Binance:

1. Access your Binance account, click [Deposit], and select [Deposit Crypto].

2. Choose the cryptocurrency you want to deposit.

3. Select the network for the deposit and make sure that it matches the network you are sending the crypto from.

4. Copy the deposit address provided by Binance.

5. Go to the platform where your crypto is stored, paste the Binance deposit address, and initiate a transfer.

How to deposit from your bank account to Binance:

1. Access your Binance account, click [Deposit], and select [Bank Deposit].

2. Choose the fiat currency you want to deposit and pick from one of the given bank transfer options.

3. Enter the amount that you want to deposit.

4. Complete the transfer from your bank account using the bank details provided by Binance. Make sure the name on your bank account matches the name registered to your Binance account.

How to Withdraw From Binance?

Binance lets users choose between crypto and fiat withdrawals. Let’s take a look at how both options work.

How to withdraw crypto from Binance:

1. Access your Binance account, hover over the account icon in the upper right corner, and select [Assets].

2. Click [Withdraw] and select the cryptocurrency that you want to withdraw.

3. Input the receiving address you want to send your crypto to and select the correct network. Specify the withdrawal amount.

4. After verifying the withdrawal details, complete the necessary security verifications, such as two-factor authentication (2FA). Binance will also send a confirmation email. Click the link in this email to finalize the withdrawal.

How to withdraw fiat from Binance:

1. Access your Binance account, hover over the account icon in the upper right corner, and select [Assets].

2. Click [Withdraw] and select [Withdraw Fiat] on the opened page.

3. Select the fiat currency you want to withdraw (e.g., USD, EUR).

4. Pick the withdrawal method. Binance supports several methods, including SWIFT, SEPA, and other options, depending on your region.

5. Enter your bank details, including the amount you wish to withdraw. Follow the prompts to fill out the necessary information.

6. Review the withdrawal details, confirm them, and complete any required security checks. 

7. Depending on the chosen method, the withdrawal might take from a few minutes to a few days to process.

Closing Thoughts

Depositing and withdrawing on Binance is straightforward once you understand the available options. You can deposit via P2P trading, the purchase of crypto with cash, bank transfers, or direct crypto deposits. For withdrawals, you can pick between withdrawing crypto to a specific blockchain address or withdrawing fiat to your bank account. 

Always double-check all the entered details and follow the official instructions to avoid falling victim to scams or accidentally losing your funds.

Further Reading

Binance Beginner's Guide

Your Guide to Binance Spot Trading

What Is the Binance Airdrop Portal?

A Beginner’s Guide to Binance Earn

Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
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Spot Signal Fighter 🚨 Add some NOT/USDT on your wallet 🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩 Buy on 0.020 or 0.019 TP above 0.035 or 0.045🥳 🥂✨🥂✨🥂✨🥂✨🥂✨🥂✨🥂✨🥂 🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨 Holding (Time period) minimum 20 days🔔 Today NOT Rate 0.0245 @CryptoPro Follow me more and support Members💸 #BNBCrossing660 #btc70k #StartInvestingInCrypto #ETHETFsApproved #FIT21
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Add some NOT/USDT on your wallet
🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩🤩
Buy on 0.020 or 0.019
TP above 0.035 or 0.045🥳
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💥 The #Ethereum ETF has been officially approved! 📈 And this is a major milestone for $ETH ! However, it was added to the "sell on news" list as #ETH dumped to $3,500 from $3,750 when the approval was announced. Still, we're positive that a huge ETH move is imminent in the next few days! FYI, here are the other crypto events that experienced a "sell on news" pattern: 🔸 Bitcoin CME futures (Dec/2017) 🔸 Bakkt (Sep/2019) 🔸 Coinbase IPO (Apr/2021) 🔸 Bitcoin Futures ETF (Oct/2021) 🔸 ETH "The Merge" (Sep/2022) 🔸 ETH "Shanghai" (Apr/2023) 🔸 Bitcoin Spot ETF (Jan/2024) 🔸 ETH "Dencun" (Mar/2024) 🔸 Bitcoin Halving (Apr/2024) (Curated by @layerggofficial ) If you like this post, follow me #ETHETFsApproved #FIT21 #PEPE‏ #btc70k #altcoins $ETH
💥 The #Ethereum ETF has been officially approved! 📈

And this is a major milestone for $ETH !

However, it was added to the "sell on news" list as #ETH dumped to $3,500 from $3,750 when the approval was announced.

Still, we're positive that a huge ETH move is imminent in the next few days!

FYI, here are the other crypto events that experienced a "sell on news" pattern:

🔸 Bitcoin CME futures (Dec/2017)
🔸 Bakkt (Sep/2019)
🔸 Coinbase IPO (Apr/2021)
🔸 Bitcoin Futures ETF (Oct/2021)
🔸 ETH "The Merge" (Sep/2022)
🔸 ETH "Shanghai" (Apr/2023)
🔸 Bitcoin Spot ETF (Jan/2024)
🔸 ETH "Dencun" (Mar/2024)
🔸 Bitcoin Halving (Apr/2024)
(Curated by @layerggofficial )

If you like this post, follow me

#ETHETFsApproved #FIT21 #PEPE‏ #btc70k #altcoins $ETH
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Camping Under the Stars vs. Luxury Hotel Suite: Bitcoin vs. Bitcoin ETF * Bitcoin (BTC): Owning Bitcoin is like camping under the stars. It's an adventure (direct ownership, navigating exchanges), offers a unique experience (pure Bitcoin exposure), and has the potential for breathtaking rewards (high returns). However, it requires self-reliance (security responsibility), can be uncomfortable (volatile market), and comes with limited amenities (restricted access on some platforms). * Bitcoin ETF: A Bitcoin ETF is like staying in a luxury hotel suite. It's convenient and comfortable (traditional exchanges, managed by professionals), offers a taste of luxury (exposure to Bitcoin price), and comes with various amenities (diversification within the ETF). However, it can be expensive (ETF fees), you don't own the actual room (no direct Bitcoin ownership), and the experience is less personal (follows the ETF's strategy). #ETFvsBTC #ETHETFsApproved #FIT21 #btc70k #altcoins
Camping Under the Stars vs. Luxury Hotel Suite: Bitcoin vs. Bitcoin ETF

* Bitcoin (BTC): Owning Bitcoin is like camping under the stars. It's an adventure (direct ownership, navigating exchanges), offers a unique experience (pure Bitcoin exposure), and has the potential for breathtaking rewards (high returns). However, it requires self-reliance (security responsibility), can be uncomfortable (volatile market), and comes with limited amenities (restricted access on some platforms).

* Bitcoin ETF: A Bitcoin ETF is like staying in a luxury hotel suite. It's convenient and comfortable (traditional exchanges, managed by professionals), offers a taste of luxury (exposure to Bitcoin price), and comes with various amenities (diversification within the ETF). However, it can be expensive (ETF fees), you don't own the actual room (no direct Bitcoin ownership), and the experience is less personal (follows the ETF's strategy).
#ETFvsBTC #ETHETFsApproved #FIT21 #btc70k #altcoins
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Handwritten Letter vs. Text Message: Bitcoin vs. Bitcoin ETF * Bitcoin (BTC): Owning Bitcoin is like sending a handwritten letter. It's a personal touch (direct ownership), requires care and attention (secure storage), and can hold lasting value (potential for long-term growth). However, it's slower (transactions take time), can be prone to errors (lost private keys), and might be outdated for some recipients (not all platforms accept Bitcoin). * Bitcoin ETF: A Bitcoin ETF is like sending a text message. It's fast and convenient (traditional exchanges), allows for quick updates (reflects market changes), and is widely accessible (most platforms offer ETFs). But it lacks the personal touch (no direct ownership), messages can be fleeting (short-term price movements), and there might be character limits (restricted investment options within the ETF). #ETFvsBTC #ETHETFsApproved #FIT21 #PEPE‏ #altcoins
Handwritten Letter vs. Text Message: Bitcoin vs. Bitcoin ETF

* Bitcoin (BTC): Owning Bitcoin is like sending a handwritten letter. It's a personal touch (direct ownership), requires care and attention (secure storage), and can hold lasting value (potential for long-term growth). However, it's slower (transactions take time), can be prone to errors (lost private keys), and might be outdated for some recipients (not all platforms accept Bitcoin).

* Bitcoin ETF: A Bitcoin ETF is like sending a text message. It's fast and convenient (traditional exchanges), allows for quick updates (reflects market changes), and is widely accessible (most platforms offer ETFs). But it lacks the personal touch (no direct ownership), messages can be fleeting (short-term price movements), and there might be character limits (restricted investment options within the ETF).
#ETFvsBTC #ETHETFsApproved #FIT21 #PEPE‏ #altcoins
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Hausse
Freshly Brewed Coffee vs. Instant Coffee: Bitcoin vs. Bitcoin ETF *Bitcoin (BTC): Owning Bitcoin is like brewing your own coffee. It's a hands-on experience (direct ownership, managing wallets), requires attention to detail (selecting exchange, securing storage), and allows for customization (choosing the type of Bitcoin). However, it can be time-consuming (learning the process), requires the right equipment (wallets, security measures), and might not always be perfect (volatility can affect value). * Bitcoin ETF: A Bitcoin ETF is like grabbing a cup of instant coffee. It's quick and convenient (traditional exchanges), readily available with various options (different ETFs), and doesn't require any special skills (easy to invest). However, it lacks the personalization (limited control over Bitcoin exposure within the ETF), might not be as strong (ETF fees can eat into returns), and may not offer the same level of satisfaction for coffee purists (doesn't directly own Bitcoin). #ETFvsBTC #. #! #ETHETFsApproved #FIT21
Freshly Brewed Coffee vs. Instant Coffee: Bitcoin vs. Bitcoin ETF

*Bitcoin (BTC): Owning Bitcoin is like brewing your own coffee. It's a hands-on experience (direct ownership, managing wallets), requires attention to detail (selecting exchange, securing storage), and allows for customization (choosing the type of Bitcoin). However, it can be time-consuming (learning the process), requires the right equipment (wallets, security measures), and might not always be perfect (volatility can affect value).

* Bitcoin ETF: A Bitcoin ETF is like grabbing a cup of instant coffee. It's quick and convenient (traditional exchanges), readily available with various options (different ETFs), and doesn't require any special skills (easy to invest). However, it lacks the personalization (limited control over Bitcoin exposure within the ETF), might not be as strong (ETF fees can eat into returns), and may not offer the same level of satisfaction for coffee purists (doesn't directly own Bitcoin).
#ETFvsBTC #. #! #ETHETFsApproved #FIT21
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