The bankrupt US government has been instituting capital controls for
years now and have ensured that Americans can’t open a bank account nor
even a bitcoin exchange account outside of the US through things like
the Foreign Account Tax Compliance Act (FATCA) and just outright
threatening to attack any bank or bitcoin exchange in the world who
accepts Americans as clients.
This leaves Americans in the “land of the free” with very few options for bitcoin exchanges.
exchange outside of the US will accept Americans as clients. They’ll
accept North Koreans. Iranians. Russians. Chinese. Anyone… except for
And due to all the regulations in the fascist/socialist
mixed US economy, it is incredibly hard to even operate a bitcoin
exchange in the US.
While there are now a few other options, which we’ll discuss further below, until recently, there was only one option. Coinbase.
be fair to Coinbase a lot of the issues with the exchange aren’t its
fault directly. They are due to the myriad of rules and regulations that
are strictly enforced in the US police state.