DEX 'Decentralized exchange' To Soon Block Users From 29 GeoLocations - Report.

DEX 'Decentralized exchange' To Soon Block Users From 29 GeoLocations - Report.

2019-06-03 | Selina Mathew

DEX 'Decentralized exchange' To Soon Block Users From 29 GeoLocations -  Report.

DEX 'Decentralized Exchange' developed by the leading crypto-currency exchange named ‘Binance’ can block access to users primarily within 29 countries. The DEX informs potential users of the restriction via a message that pops-up while 'accessing' the platform from one amongst the geolocations.

Explaining further about the blocked locations. the message states as:

[caption id="attachment_7860" align="aligncenter" width="646"]DEX 'Decentralized exchange' To Soon Block Users From 29 GeoLocations -  Report. Notice while Accessing The Platform From Within The United States.[/caption]

The pop-up additionally warns about how trading and accessing the crypto wallet interface via the web-site would be blocked for users with the IP addresses from the aforesaid countries.

Moreover, the message also links to a 'list' of wallets supporting the BNB [Binance Chain] mainnet, suggesting them as alternatives for holding and managing the digital assets.

However at the reporting time, Binance has not officially announced in particular related to his new update.

On the other hand, several within the cryptocurrency community characterised the finding as a sign that the DEX is actually not decentralized. A Twitter user renowned among the crypto enthusiasts named ‘Whale Panda’, 'commented':

“Reminder that it was ne'er a DEX, so stop calling it a DEX. It's simply a word they used to pump $BNB, it was absolutely ne'er meant to be decentralized.”

A Steemit 'post' dedicated to the subject links to a 'suggested' cryptocurrency asset trading platforms that don’t require users to go through KYC [Know-Your-Customer] procedures.

As reported earlier, Binance launched its decentralized trading platform prior than planned, just within the 2nd half of April.

Just yesterday, an other report 'revealed' that the major traffic directed at crypto exchanges globally comes from the U.S., followed by Japan.

Earlier in Dec. last year, Time 'reported' that Bitcoin [BTC] encompasses a substantial liberating potential thanks, among other things, to the inability of authorities to regulate access to it.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List