Status of CEX in your country

[Carbitcoin]

In 2022, my country declared that CEX  is not illegal and is considered fair, albeit with numerous regulations imposed.

The fact of the matter is that the government will support platforms that can be controlled.

[Freemind]

They are not reliable even with Premium accounts. With free accounts, it is much less reliable and one IP address can be used by many free accounts.

In addition, if a user already completed KYC (that is mandatory) on Binance, why does he need to use VPN?

Identity and more information about the user already known by Binance, using VPN does not help to hide anything and it plus with risk of bad VPNs and account suspension, I am against the idea to use VPN, at least on Binance.

VPNs serve many purposes and are very useful, but this is not the case. In the documents that users send to the exchange is their country of birth and residence, using a VPN to hide that is nonsense, from then on they will always have problems. When an exchange does not accept users from one country for some reason, it is better to use another exchange. While I understand people do it for things like daily volume, etc., it's something I would never do or recommend.

[vegasus]

A few weeks ago, SEC Philippines released an announcement/warning to the public that the Binance Exchange is not a registered exchange in our country and illegally operates without a license.

This regulation has actually been in effect in Indonesia for several years, where Binance can no longer operate openly in Indonesia because after all this is not under our country's regulations. However, on the other hand, we can actually still use the Binance exchange, especially the application, easily. and you can still carry out various transactions with the platform, including if you are used to using Binance's P2P system then it's actually not too much of a problem as long as we have carried out KYC verification on the platform.

Unless we are going to make a withdrawal directly to our account then inevitably we have to transfer the coins to our country's local exchange which is already under state regulations. so this will make it easier for us to make deposits or withdrawals. So just see what the best alternative is as a solution in your country.

[Bitcoin_people]

Cryptocurrencies are completely illegal in the country I live in. Cryptocurrency is illegal in my country but from here we are using crypto currency very well. Government is not taking any action against cex from our country as cryptocurrency is illegal in my country. We are using binance exchange very well.

Likewise since the government has made Bitcoin and Cryptocurrencies legally illegal in our country. But still we are connected to Bitcoin and all currencies and able to transact there easily. Although the government has of course largely outlawed all of this CEX and bitcoin transactions, he knows that the use of bitcoins has led to a lot of economic growth in his country. Thinking about this matter, the government does not take any action, but it has only made it illegal, so far it has said. In our country there are many other popular CEX exchanges with finance that we can easily use and we can complete the transaction very easily.

[Dr.Bitcoin_Strange]

Cryptcurrency is not illegal in my country, and neither are exchanges. In my country, cryptocurrency enthusiasts are using Binance, Kucoin, Probit, Digifinex, Coinstore, Coinbase, MXC, and a lot of other exchanges that are freely used in my country. The government does not really give much of a fuck about cryptocurrency users, and everyone is at their own risk.

Bitcoin is not a bad investment; just those that actually do not have better knowledge would only lose their money in Bitcoin, which can happen only when they sell lower than the price they bought or if they release their private information to scammers. So, I don't see any reason for banning Bitcoin; instead, other shitcoins should be banned.

[I-Bit]

This regulation has actually been in effect in Indonesia for several years, where Binance can no longer operate openly in Indonesia because after all this is not under our country's regulations.

Yes. Binance doesn't operate in Indonesia. 
We no longer can access Binance because it is prohibited by our government. However, I think it is only about the time, someday it probably can be accessed again. Binance teams just need to get a deal with the government for some matters.

Unless we are going to make a withdrawal directly to our account then inevitably we have to transfer the coins to our country's local exchange which is already under state regulations. so this will make it easier for us to make deposits or withdrawals. So just see what the best alternative is as a solution in your country.

We have Tokocrypto, we can transfer coins with no fees from Binance. And if we want to convert the coins to fiats, surely we can withdraw it from the local exchanges like Tokocrypto.

[UNIVERSE]

In 2022, my country declared that CEX  is not illegal and is considered fair, albeit with numerous regulations imposed.

The fact of the matter is that the government will support platforms that can be controlled.

This is what happen likely in my country.
Because in this country, all CEXs must be under the auspices of one of the institutions in this country and must be registered there. Not only that, but the CEX platform is also required to provide reports to the state. Plus, when we users use the text platform, we will immediately be deducted to be transferred to paying taxes to the government directly when making transactions. That's why cryptocurrency is currently legal in this country because it does provide sufficient benefits for this country. But legal as a commodity asset is not legal as a means of payment because this is different.

[IvugeoEvolutionCoin]

This is what happen likely in my country.
Because in this country, all CEXs must be under the auspices of one of the institutions in this country and must be registered there. Not only that, but the CEX platform is also required to provide reports to the state. Plus, when we users use the text platform, we will immediately be deducted to be transferred to paying taxes to the government directly when making transactions. That's why cryptocurrency is currently legal in this country because it does provide sufficient benefits for this country. But legal as a commodity asset is not legal as a means of payment because this is different.

In fact, CEX control under government supervision is one form of safeguarding and guaranteeing the money used to carry out CEX trading in that country, because if there is no supervision then a CEX that is free to stand will have the opportunity to take money belonging to its people so that it will make The country is losing money, therefore, I am sure that each country has a policy regarding CEX operating in a particular country and of course each country has different regulations.

[Z-tight]

Centralized exchanges have to comply with the laws and regulations of the countries they operate in, if they feel they cannot comply to it, then they have to stop offering their services to people who live in that country.

Take note that you don't have to use centralized exchanges, you can pick any p2p exchange from here: https://kycnot.me/?type=exchange and trade without handing your data out and without any third party.

[Z-tight]

Delete!

[Uruhara]

A few weeks ago, SEC Philippines released an announcement/warning to the public that the Binance Exchange is not a registered exchange in our country and illegally operates without a license.

Right now, Binance was given 3 months from November 29 to comply with the regulations of the Philippines.
This news was not only for Binance but the other centralized exchanges that are unregistered will also be banned.

We have a local wallet exchange that we can use (e.g. coinsph, gcash, pdax), however, Filipino crypto users find it more convenient to use Binance P2P transactions.

How about in your country, is it legal or illegal to use crypto?
How does the government make its move against CEX?

Binance in our country is also not legal yet. But in our country there are many legal CEXs so we have many choices that can be used. Using P2P on Binance is very convenient. And it is also a choice for many users in my country.

In my country crypto is legal as a commodity asset. So we can buy and sell it freely. Because there are already clear regulations regarding this matter. The only problem is that the taxes are quite large when we transact on CEX which is legal and supervised by the government.

[gunhell16]

A few weeks ago, SEC Philippines released an announcement/warning to the public that the Binance Exchange is not a registered exchange in our country and illegally operates without a license.

Right now, Binance was given 3 months from November 29 to comply with the regulations of the Philippines.
This news was not only for Binance but the other centralized exchanges that are unregistered will also be banned.

We have a local wallet exchange that we can use (e.g. coinsph, gcash, pdax), however, Filipino crypto users find it more convenient to use Binance P2P transactions.

How about in your country, is it legal or illegal to use crypto?
How does the government make its move against CEX?

Binance in our country is also not legal yet. But in our country there are many legal CEXs so we have many choices that can be used. Using P2P on Binance is very convenient. And it is also a choice for many users in my country.

In my country crypto is legal as a commodity asset. So we can buy and sell it freely. Because there are already clear regulations regarding this matter. The only problem is that the taxes are quite large when we transact on CEX which is legal and supervised by the government.

I think that there is only one country that we belong to, and Binance only has a few weeks to see if there will be a court order to block Binance in our country. However, we know that in our area, Binance is a big help through P2P.

But if Binance is really blocked and we still want to use it, the only thing we can do is use a VPN, and this is the only way, but if there is another choice or solution besides Binance, it's better, right?

[Uruhara]

Binance in our country is also not legal yet. But in our country there are many legal CEXs so we have many choices that can be used. Using P2P on Binance is very convenient. And it is also a choice for many users in my country.

In my country crypto is legal as a commodity asset. So we can buy and sell it freely. Because there are already clear regulations regarding this matter. The only problem is that the taxes are quite large when we transact on CEX which is legal and supervised by the government.

I think that there is only one country that we belong to, and Binance only has a few weeks to see if there will be a court order to block Binance in our country. However, we know that in our area, Binance is a big help through P2P.

But if Binance is really blocked and we still want to use it, the only thing we can do is use a VPN, and this is the only way, but if there is another choice or solution besides Binance, it's better, right?

Well if there were other options then it would be better. Is OKX also banned in your country? Because using p2p on Cex okx is also quite comfortable for me. And many other Cex also provide p2p. But it cannot be denied that Binance is the most comfortable to use. Because p2p trading on Binance also has high volume. There are many sellers and buyers that we can choose from. So I hope that the biggest Cex can be accepted in all countries, including my country.

One of the Cex in my country has now officially closed withdrawing money into e-Wallets, which makes it very difficult for me, who uses e-wallets more often. So binance p2p remains the most convenient.

[dekafee79]

How about in your country, is it legal or illegal to use crypto?

In my country, the government didn't ban crypto and not legalized crypto..So, I think It's free for us..
I don't need legal or not, The government didn't ban I think  It's a good thing.
At several countries SEC against CEX, but not in my country.
Hopefully crypto will always allow in my country..

[jeraldskie11]

A few weeks ago, SEC Philippines released an announcement/warning to the public that the Binance Exchange is not a registered exchange in our country and illegally operates without a license.

Right now, Binance was given 3 months from November 29 to comply with the regulations of the Philippines.
This news was not only for Binance but the other centralized exchanges that are unregistered will also be banned.

We have a local wallet exchange that we can use (e.g. coinsph, gcash, pdax), however, Filipino crypto users find it more convenient to use Binance P2P transactions.

How about in your country, is it legal or illegal to use crypto?
How does the government make its move against CEX?

I'm also aware of this since I'm also your fellow Filipino but I'm still have some funds in my Binance nowadays. I don't feel any worry since there is no announcement yet or maybe this kind of stuff is not new to me. Usually, they just use it manipulate us to make people in the affected Country to withdraw their funds or get scared. However, it's always best to be defensive of our funds because we can't go back time.