Idex Decentralized Exchange has announced that it will ban all users from the American State of New York. Idex is the third largest decentralized cryptocurrency exchange after Etherdelta and Forkdelta with over 5000 ETH of daily trading volume.
Idex tweeted today that it will start blocking all users using New York IP Addresses starting from tomorrow i.e. October 25 (6 PM UTC).
***Notice: #IDEX will begin blocking new orders from users with New York State IP addresses on Thursday, October 25th (6pm UTC). Cancels and withdrawals will remain active.
— Aurora (IDEX) *Not Giving Away ETH* (@Aurora_dao) October 24, 2018
From tomorrow 25th October 2018, the residents of New York and others who tend to use New York IP Addresses will not be able to access the exchange and therefore will not be able to trade hundreds of Ethereum based tokens listed on the platform.
The decision to block traders in the state has started dissents all through the cryptocurrency community. It is standard for the centralized exchanges to block inhabitants of specific regions, with New York the state most regularly boycotted by virtue of its remarkably prohibitive cryptocurrency regulations. For a decentralized exchange to give careful consideration to the impulses of New York lawmakers is astounding, notwithstanding, particularly since IDEX contains no fiat currency pairs, security tokens, or different instruments that may hold any importance with regulators.
What do you feel about this decision by Idex Exchange? Let us know in the comments section below.
