Binance DEX To Block Users From Almost 30 Countries Starting In July As Comments Fly In

Binance DEX To Block Users From Almost 30 Countries Starting in July

  • Binance will be blocking users from 29 countries to use its DEX
  • The United States, Belarus and Crime in Ucraine are just some of the jurisdictions blocked

The Binance decentralized exchange (DEX), which was launched in April, will have some surprises regarding to who is going to be able to use the platform since July. According to a recent post published by The Block, Binance will be blocking IP addresses from almost 30 different countries, including the United States.

Binance Exchange To Block IP Addresses From Some Regions

The Binance decentralized exchange will not allow users from 29 countries to use the (Binance DEX) platform. Some of these countries include the United States, Belarus, Bosnia, Cuba, Venezuela, Yemen or Zimbabwe, among others, including Crimea.

The decision to block users from these countries could be related to the fact that the U.S. Securities Exchange Commission (SEC) has charged the founder of the decentralized exchange EtherDelta with operating an unregistered securities exchange. Indeed, Binance would not eb able to provent developers issuing a security token.

Binance has been working in order to expand its services. It does not only a crypto platform for trading but it is also working on its decentralized exchange, its blockchain network and many other initiatives related to virtual currencies.

There are other platforms such as OKEx that want to launch their decentralized exchanges as well. OKEx is working on its OKDEx that will be operating its own blockchain called OKChain and it is expected to be launched this yaer.

Regulatory agencies around the world are also starting to pay close attention to the crypto market. As Bitcoin started to grow again in the last few months, regulators are trying to take the necessary measures to control investors will not be affected by scams and other fraudulent schemes. The government of South Korea has already held a meeting regarding this issue.

According to CoinMarketCap, Binance is the largest cryptocurrency exchange in terms of trading volume. In the last 24 hours, the platform registered $2.56 billion in trading volume thanks to the ONE/BTC trading pair. ONE is the cryptocurrency of Harmony, a new Initial Exchange Offering (IEO) launched through the Binance Launchpad. It has registered a trading volume of $352 million, almost 2 percentual points more than BTC/USDT.

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