In June 2019 the company announced it would prohibit US passport holders as well as anyone residing in the US, and would set up a new entity binance.us to support those customers.[34] Later in 2023 Forbes leaked a document allegedly from Binance titled "TaiChi" that proposed this regulatory solution to reduce US regulatory risk.[35] Binance subsequently denied the document, sued Forbes for defamation, and subsequently dropped the lawsuit.[36]