Binance.US does not operate in Texas. The exchange lists Texas among its unsupported states, which means Texas residents cannot open an account, deposit funds, or trade on the platform.1Binance.US. List of Supported and Unsupported States and Regions The block is a licensing issue, not a technical glitch, and the platform has not announced any timeline for entering the Texas market. If you live in Texas and want to buy or sell cryptocurrency, you’ll need to use a different exchange.
Why Binance.US Doesn’t Work in Texas
Texas treats cryptocurrency exchanges as money transmitters, and any business transmitting money for Texas residents must hold a money transmission license from the Texas Department of Banking. The requirement comes from Texas Finance Code Chapter 152, which sets out licensing, net worth, surety bond, and compliance obligations for anyone moving customer funds.2Texas Department of Banking. Interpretive Statement 2020-01
Binance.US does not hold that license. Rather than operate without authorization and face enforcement, the platform blocks Texas entirely, placing the state alongside New York, Vermont, Connecticut, and roughly a dozen other restricted jurisdictions.1Binance.US. List of Supported and Unsupported States and Regions The platform screens for Texas residency both through the government-issued ID submitted during signup and through IP-based location checks, so there is no accidental way onto the service.
Crypto Exchanges That Do Work in Texas
Texas residents have real options. Several major exchanges hold the necessary Texas money transmission license and operate fully in the state:
- Coinbase
- Gemini
- Kraken
- Crypto.com
Coinbase and Gemini are available in all 50 states. Each platform has its own fee structure, coin selection, and feature set, so the right choice depends on what you plan to trade and how often. Spot trading, staking availability, and withdrawal fees are the usual decision points.
One caution before you sign up anywhere: not every nationally advertised exchange actually serves Texas. OKX, for instance, is blocked in both New York and Texas, similar to the Binance.US situation. Check the supported-states page before you fund an account.
If you specifically valued Binance.US for its token list, the gap has narrowed. Binance.US has operated with a reduced product set in recent years, offering only spot trading with no futures, margin, or options. The licensed alternatives now cover most of the same assets and often offer broader features.
If You Already Have an Account and Moved to Texas
If you opened a Binance.US account while living in a supported state and later moved to Texas, you won’t be able to keep trading. The platform typically freezes trading once it detects the residency change through an address update, new login patterns, or re-verification of your ID.
You should still be able to withdraw what’s in the account. Binance.US has historically allowed withdrawal-only access for users in restricted states, covering both cryptocurrency and U.S. dollar balances, though the platform may require additional verification before releasing funds and the process can take time.
The practical move is to act before the account freezes. Transfer your crypto to a self-custody wallet or to a Texas-licensed exchange, then send any dollar balance to your linked bank account. Initiating the withdrawal on your own timing is smoother than reacting after features start disappearing.
Don’t Try to Bypass the Block With a VPN
Masking your location with a VPN to sneak onto Binance.US is a bad trade. The platform’s terms of use allow it to terminate or restrict accounts that violate eligibility rules, and when the exchange spots a mismatch between a Texas address on your ID and a non-Texas IP, it can freeze the account while it reviews.3Binance.US. Terms of Use
A frozen account means you can’t sell during a downturn and can’t pull cash when you need it. Resolving a freeze from inside a restricted state leaves you with no leverage. On top of the platform risk, misrepresenting your residency to a regulated financial service can create legal exposure. Whatever edge you think a particular exchange offers, it isn’t worth losing access to your funds.
Your Federal Tax Obligations Don’t Change
Whichever exchange you use, and whether you trade on a centralized platform or through self-custody, the IRS requires you to report digital asset transactions. Sales, exchanges, and other dispositions of cryptocurrency go on Form 8949 as capital gains or losses. Income from staking, mining, or receiving crypto as payment goes on Schedule 1 or Schedule C depending on how it was earned.4Internal Revenue Service. Digital Assets
Starting in 2026, brokers must report cost basis information on certain digital asset transactions, and a new Form 1099-DA is being phased in for crypto activity.4Internal Revenue Service. Digital Assets There is no minimum transaction amount that triggers the reporting duty. Texas has no state income tax, so your federal return is the only filing concern, but that makes the federal piece more important, not less.
Could This Change?
A few federal bills could eventually reshape state-level crypto licensing. The GENIUS Act, signed into law in July 2025, created a federal framework for stablecoin issuers and preempts state licensing for federally chartered stablecoin companies, but it does not cover exchanges or broader trading platforms.
Two other bills would reach further. The Digital Asset Market Clarity Act would give the CFTC exclusive jurisdiction over digital commodity exchanges, potentially overriding state money transmitter licensing for qualifying platforms. A Senate discussion draft, the Responsible Financial Innovation Act, includes a provision that would expressly preempt state licensing and money transmitter laws for registered digital asset businesses. Neither bill has been enacted as of early 2026, and 21 state attorneys general have publicly urged federal agencies not to strip states of their existing authority over crypto intermediaries. If one of these bills passes, Texas’s licensing barrier for Binance.US could fall away. Until then, the block stands, and a licensed Texas alternative is the only legitimate route.