Binance, by far the largest cryptocurrency exchange in the world according to real volume and community stature, is riding high with several developments, including their Decentralized Exchange [DEX]. However, the DEX might not make it to the United States along with over 20 countries.
According to a steemit post by a kingscrown, several countries are “getting banned from using the site, the USA being one of [the] most known on the list”. The post cited MasterTrader777#BNB with an attached image which stated that the location of the access-seeking IP address was not authorized by www.binance.org.
The countries in the list are the USA, Belarus, Bosnia & Herzegovina, Albania, Croatia, Kosovo, Macedonia, Moldova, Serbia, Zimbabwe, Liberia, Libya, Central African Republic, Democratic Republic of Congo, Cote D’Ivoire, Somalia, Sudan, South Sudan, Iraq, Iran, Lebanon, Syria, Cuba, Venezuela, Yemen, North Korea, Burma and the Crimean Peninsula in Ukraine.
Furthermore, the post added that trading and access to the wallet interface via binance.org would “no longer be available” from networks which have an IP address emanating from the aforementioned countries.
Binance DEX is the company’s effort to launch a decentralized exchange which will operate on their native blockchain, the Binance Chain, which has seen a migration of several tokens already. Binance Chain offers integration for several wallets including the official Trust Wallet, Coinomi, Ledger, Enjin, Exodus among others.
Competition on the DEX front is heating up with Binance’s Maltese neighbor OKEx looking to launch a DEX of their own, titled OKDEx. OKEx’s decentralized exchange will operate on their own blockchain OKChain and is slated for a June launch.
Despite signs of the Binance DEX not being made available in the United States, some Redditors had a solution. A user, rekkktttt, stated,
“A VPN would probably work fine but it’d be important to note that if they ended up demanding KYC from you at some point in the future you’d most likely be fucked. Binance’s DEX is far from your typical “real” DEX from what I understand so don’t expect being able to withdraw from a smart contract without anybody else’s permission if it comes down to something like that.”
However, some contend the prohibition in some geographical areas over other as disqualifying to be a Dex, BoyScout22 put it succinctly,
“not really a dex then”
To the above, rekkktttt, added,
“Of course it’s not. It has no features of a real DEX… it’s just a way to pump BNB and nothing else from the looks of it.”
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