From July 1, 2019, Binance crypto exchange will start blocking access to the platform for traders from the United States and another 28 countries. The marketplace will restrict access to the site binance.org by IP.
Initially, information was published that traders will be blocked from the Binance DEX platform. In response to this message, many members of the crypto community have said that geolocation blocking indicates that Binance DEX is not a truly decentralized exchange. Crypto trader Larry Cermak said that Binance DEX is a centralized trading platform without custodial service, but it turned out to be wrong.
Starting next month, Binance’s ‘decentralized’ exchange will start geo-blocking 29 countries including the USA. Of course, this will be possible to circumvent fairly easily through a VPN but just goes to show that it’s a non-custodial exchange (so far?) - not decentralized. pic.twitter.com/laaJrMIQf0
— Larry Cermak (@lawmaster) 1 июня 2019 г.
The director of the company Changpeng Zhao hurried to reassure traders. On June 2, he posted a message to Twitter stating that access would be limited to the centralized Binance exchange, and not to Binance DEX.
The messages being passed is wrong. https://t.co/VtrSxEaW22 (the website) blocks certain countries; DEX (the blockchain) does not, it can’t.
And there are plenty of wallets support trading on DEX directly.
Website ≠ Blockchain. 😂😂😂
— CZ Binance (@cz_binance) 3 июня 2019 г.
According to him, the peering platform is technically not capable of blocking people by geolocation.
We want to remind you:
Binance Users Lost Their Money Due To Lag With Trade Settlement And Balance Syncing
