Binance.US still cannot onboard users in 12 states, including New York and Texas, while Kansas and Wisconsin remain crypto-only. Fee-led share is rented: Kaiko found global Binance lost nearly all of the roughly 20 points gained during its seven-month zero-fee program after fees returned to most BTC pairs in March 2023.

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MiCA cutoff drives 70% of Binance EU withdrawals to self-custody, signaling regulatory flight from licensed exchanges

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