Bancor plans to restrict United States residents from trading tokens

Decentralized exchange platform Bancor plans to restrict United States residents from trading tokens on July 8, the company confirmed in a blog post on June 18.

Citing a lack of clarity from regulators, executives said they took the decision to ban all users with a U.S. IP address from exchanging cryptocurrency.

Bancor runs as a decentralized protocol using a P2P setup. While it is unclear what specific factor motivated the move, the regulatory situation involving another decentralized exchange (DEX), Etherdelta, in 2018 serves to illustrate the difficulties of operating such a service in the U.S.

Reference: https://cointelegraph.com/news/bancor-seeks-to-exclude-us-users-from-trading-over-regulatory-uncertainty

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Author: Neo Anderson

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