Binance DEX will soon geo-block the United States and 28 other countries. Users will no longer be able to trade or access wallets through the site, unless they use a VPN or an app that supports native trading.
Some users have pointed to the geoblocking as the exchange not being decentralized in the fullest sense of the word – more non-custodial than decentralized.
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) June 1, 2019
Recently, the United States Securities and Exchange Commission (SEC) charged Zachary Coburn, founder of decentralized exchange EtherDelta, for operating an unregistered exchange.
The Binance DEX was launched in April and was heralded as a step forward for the exchange. The Binance Coin (BNB) has performed extremely well in 2019, due to the arrival of new features like the Binance Dex, Binance Chain and its token launch platform, Binance Launchpad.
It remains one of the premier exchanges in the world, and has not lost much standing, despite the recent $40 million hack.