Binance DEX To Geoblock Some Markets
According to news reports online Binance DEX, a decentralized exchange developed by one of the largest cryptocurrency exchanges in the world, has recently starting blocking website access to users from 29 countries.
These includes: USA, Albania, Belarus, Bosnia, Burma, Central African Republic, Democratic Republic of Congo, Democratic People’s Republic of Korea, Cote D’Ivoire, the Crimea region of Ukraine, Croatia, Cuba, Herzegovina, Iran, Iraq, Kosovo, Lebanon, Liberia, Libya, Macedonia, Moldova, Serbia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, or Zimbabwe.
It was reported that anyone that will be accessing the site from these IP addresses from the aforementioned locations will not be able to trade in the DEX starting July 1, 2019 (UTC 00:00).
The move have stirred controversy within the crypto community with some saying that the supposedly decentralized exchange is actually centralized prompting a response from Binance CEO Changpeng Zhao that the DEX (blockchain) itself is not geoblocking anyone.
It must be noted that IP restrictions are easily bypassed by VPN software that is freely available for download and easily configured.
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