Oregon has taken a significant step in the ongoing saga surrounding Binance.US, a cryptocurrency exchange that has been plagued by legal issues. The state has revoked the money transmission license of Binance.US, effectively prohibiting the exchange from handling cryptocurrency transactions involving Oregon residents. This move follows a series of legal problems linked to the former CEO, Changpeng Zhao, who was charged with violating anti-money laundering laws.

The Oregon Division of Financial Regulation provided the reasons for this action on April 30. Initially, several other states, including Florida, Alaska, Maine, North Carolina, and Connecticut, had banned Binance.US. However, after Zhao pleaded guilty to the charges, these states had no further action to take. Oregon's decision to revoke the license reflects the growing distrust of Binance.US in the United States, as local authorities continue to take action against the crypto exchange. The recent initiatives of Binance.US are also facing operational challenges, including significant staff reductions due to banking issues.

In Oregon, where the tax rate has increased this year, consumers are advised to consider liquidation or transfer their assets and seek guidance from tax professionals.