Binance DEX Will Geoblock Users From 29 Countries, Including the US
Binance DEX, a non-custodial exchange which introduced in April, revealed to its users that it will start geo-blocking 29 nations including the USA starting from July 1. Trading and accessing wallets through binance.org will no longer be offered to users with IP addresses from the afflicted nations. It will still be possible to circumvent the block by utilizing a VPN or by using among the compatible wallets that currently support native trading.
This application of geo-blocking could be connected to the SEC charging the creator of decentralized exchange EtherDelta with running an unregistered securities exchange in November.
The DEX notifies possible users of the limitation via a message that appears when accessing the platform from among those regions. The message appearing on the platform states: It seems you are accessing www.binance.org from an IP address belonging to one of the following countries:
USA, Albania, Belarus, Bosnia, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, the Crimea region of Ukraine, Croatia, Cuba, Herzegovina, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova, Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, or Zimbabwe.
Pop-up when accessing the platform from within the U.S. | Source: binance.org
The pop-up also alerts about how trading and accessing the wallet user interface through the website will be blocked for users with IP addresses from the above-mentioned countries.
Lastly, the message likewise links to a list of wallets supporting the Binance Chain (BNB) mainnet, recommending them as alternatives for holding and handling the assets.
Binance has not replied to a request for comment on the move at press time.
Several in the crypto community characterized the finding as an indication that the DEX remains in reality not decentralized. A Twitter user popular amongst crypto lovers, Whale Panda, commented:
“Reminder that it was never a DEX so stop calling it a DEX. It’s just a word they used to pump $BNB, it was never meant to be decentralized.”
A Steemit post committed to the subject links to a list of suggested crypto asset trading platforms that do not need users to go through Know Your Customer practices.
As reported at the time, Binance started its decentralized trading platform earlier than programmed, in the 2nd half of April.
On June 1st, Cointelegraph reported that the biggest portion of traffic directed at crypto exchanges worldwide originates from the U.S., followed by Japan.
At the end of last year, Time reported that bitcoin (BTC) has a considerable liberating potential thanks, mainly, to the inability of authorities to manage access to it.