Status of CEX in your country

[KingsDen]

In our country India, Binance has not been considered as an illegal exchange as of now. A lot of user still prefer it than local exchanges due to the tax structure. There are news that the government would ask International exchanges like Binance to follow regulatory demands. For now Binance is operating without any issues.

If Philippines government succeeds in this those move against Binance, we will see that many countries will follow same measures or approach to deal with Binance. The company called Binance is generating alot of revenue from countries they do not pay tax to. This is especially some African countries, this is no nice. Their attention is on US who gives them tough time.
I support every country to tax any company that benefits from their citizens. This will help local exchanges succeed. If Binance values the Philippines customers they should comply with their government.

[sampoerna]

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

This seems to be happening in several countries. In my country, Binance has long been prohibited from operating because it is not registered with one of the authorized institutions in the country and is subject to state regulations. In this case, Binance cannot operate as a CEX in the country. And maybe this is also what happens in your country.

but apparently, we can still use the Binance application easily here. and you can also open the Binance website as long as you change the DNS or VPN (a bit risky). So it doesn't really matter. Maybe the effect is that Ektika will cash out to a bank account. This may require an official local exchange from this country. Or if not, just use the P2P feature on Binance.

It seems that more and more countries are implementing this. This means that regulations regarding exchanges are getting stricter in various countries and of course they will try to prioritize CEX so they can profit from it all.

[DabsPoorVersion]

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

This seems to be happening in several countries. In my country, Binance has long been prohibited from operating because it is not registered with one of the authorized institutions in the country and is subject to state regulations. In this case, Binance cannot operate as a CEX in the country. And maybe this is also what happens in your country.

but apparently, we can still use the Binance application easily here. and you can also open the Binance website as long as you change the DNS or VPN (a bit risky). So it doesn't really matter. Maybe the effect is that Ektika will cash out to a bank account. This may require an official local exchange from this country. Or if not, just use the P2P feature on Binance.

It seems that more and more countries are implementing this. This means that regulations regarding exchanges are getting stricter in various countries and of course they will try to prioritize CEX so they can profit from it all.

I advise against using a VPN when accessing Binance as there is a high chance that your account will be banned. In the past, there have been cases where users were blocked from using their accounts as they were accessing Binance from a country where it is prohibited.

I would like to know if Binance is the only CEX that is prohibited from operating in your country or if any other unregistered CEXs may face the same issue.

[tranthidung]

I advise against using a VPN when accessing Binance as there is a high chance that your account will be banned. In the past, there have been cases where users were blocked from using their accounts as they were accessing Binance from a country where it is prohibited.

I would like to know if Binance is the only CEX that is prohibited from operating in your country or if any other unregistered CEXs may face the same issue.

It seems Binance allows using VPN.

• Terms of Binance has no point against VPN usage.
• Best VPNs for Binance in 2023. It states that using VPN is legal on Binance but make sure you don't use IP address from US. because Binance is banned in the USA. It seems information from the article matches with Binance website (their Terms)

Binance is like other exchanges, they can suspend user accounts if something suspicious with user accounts is detected by their security bots. You might have to do some identity verification to use your account after a temporary suspension. If I am a legit user, I won't use VPN because of potential troubles.

[Gladitorcomeback]

Since we are on the same country kabayan, I think if Binance will refuse to register with SEC I think we will be forced to use coins.ph, PDAX and any other CEX available in the country right now. But for me no local exchange is comparable to Binance when it comes to convenience most specifically with its P2P feature. I personally use Binance in trading not the local CEX.

If Binance has a big userbase in Philippine I am sure they won't let that happen and will eventually comply with local regulations (if govt really want to regulate them), but 3rd world countries like yours and many others where Govt is the most corrupt one and the real thief I don't think govt really care about it's nation's ease of life.. I am pretty sure they are just after some money from Binance,
After Reading this thread it surprises me that Binance is not registered in so many countries. I mean considering how big Binance is they should take regulations and laws more seriously. but they are just getting away with that. lol

I advise against using a VPN when accessing Binance as there is a high chance that your account will be banned. In the past, there have been cases where users were blocked from using their accounts as they were accessing Binance from a country where it is prohibited.

I would like to know if Binance is the only CEX that is prohibited from operating in your country or if any other unregistered CEXs may face the same issue.

It seems Binance allows using VPN.

• Terms of Binance has no point against VPN usage.
• Best VPNs for Binance in 2023. It states that using VPN is legal on Binance but make sure you don't use IP address from US. because Binance is banned in the USA. It seems information from the article matches with Binance website (their Terms)

Binance is like other exchanges, they can suspend user accounts if something suspicious with user accounts is detected by their security bots. You might have to do some identity verification to use your account after a temporary suspension. If I am a legit user, I won't use VPN because of potential troubles.

Even if Binance Allow using VPNs it is still not safe to use a VPN, most VPNs track user's activity they will increase your risk of getting hacked so much. if everyone someone really need to use a VPN. then you should use a very trusted VPN.
but it is not recommended to use a VPN.

[Freemind]

It seems Binance allows using VPN.

• Terms of Binance has no point against VPN usage.
• Best VPNs for Binance in 2023. It states that using VPN is legal on Binance but make sure you don't use IP address from US. because Binance is banned in the USA. It seems information from the article matches with Binance website (their Terms)

Binance is like other exchanges, they can suspend user accounts if something suspicious with user accounts is detected by their security bots. You might have to do some identity verification to use your account after a temporary suspension. If I am a legit user, I won't use VPN because of potential troubles.

VPNs are also not reliable in this case. 99% of companies that claim not to keep user logs actually do so, most do so to comply with the laws of the countries in which those companies are registered. Some of these companies even add keyloggers in the source code of their mobile and desktop applications, and that poses a serious risk to our passwords and private keys. To use a VPN it would be preferable for it to be configured on the user's own server, but that requires some knowledge.

[DabsPoorVersion]

Since we are on the same country kabayan, I think if Binance will refuse to register with SEC I think we will be forced to use coins.ph, PDAX and any other CEX available in the country right now. But for me no local exchange is comparable to Binance when it comes to convenience most specifically with its P2P feature. I personally use Binance in trading not the local CEX.

If Binance has a big userbase in Philippine I am sure they won't let that happen and will eventually comply with local regulations (if govt really want to regulate them), but 3rd world countries like yours and many others where Govt is the most corrupt one and the real thief I don't think govt really care about it's nation's ease of life.. I am pretty sure they are just after some money from Binance,
After Reading this thread it surprises me that Binance is not registered in so many countries. I mean considering how big Binance is they should take regulations and laws more seriously. but they are just getting away with that. lol

I advise against using a VPN when accessing Binance as there is a high chance that your account will be banned. In the past, there have been cases where users were blocked from using their accounts as they were accessing Binance from a country where it is prohibited.

I would like to know if Binance is the only CEX that is prohibited from operating in your country or if any other unregistered CEXs may face the same issue.

It seems Binance allows using VPN.

• Terms of Binance has no point against VPN usage.
• Best VPNs for Binance in 2023. It states that using VPN is legal on Binance but make sure you don't use IP address from US. because Binance is banned in the USA. It seems information from the article matches with Binance website (their Terms)

Binance is like other exchanges, they can suspend user accounts if something suspicious with user accounts is detected by their security bots. You might have to do some identity verification to use your account after a temporary suspension. If I am a legit user, I won't use VPN because of potential troubles.

Even if Binance Allow using VPNs it is still not safe to use a VPN, most VPNs track user's activity they will increase your risk of getting hacked so much. if everyone someone really need to use a VPN. then you should use a very trusted VPN.
but it is not recommended to use a VPN.

That's another reason why we shouldn't consider using a VPN. I am uncertain whether free VPNs are reliable for use, or if only premium VPNs are suitable, especially when conducting transactions on an exchange. Aside from that, for some people like me, who are not aware of a recommended VPN to use, or which VPNs are trustworthy, it may be better to avoid using one altogether.

[tranthidung]

VPNs are also not reliable in this case. 99% of companies that claim not to keep user logs actually do so, most do so to comply with the laws of the countries in which those companies are registered. Some of these companies even add keyloggers in the source code of their mobile and desktop applications, and that poses a serious risk to our passwords and private keys. To use a VPN it would be preferable for it to be configured on the user's own server, but that requires some knowledge.

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.

[gunhell16]

Hey Kabayan, nice to have our second home here, huh? I don't think this kind of situation happens only in our country. If we look at our Binance literally, it is operating illegally; it just looks legal because our country is also open to the cryptocurrency business like the one we are in now.

You know that other countries must follow the regulations that each government has in order for them to have control over exchanges. And usually, the sexes are really pushed by them. I really hope that Binance will take a step in this matter so that the few years that they have existed in our country will not be wasted.

[Learn Bitcoin]

That's another reason why we shouldn't consider using a VPN. I am uncertain whether free VPNs are reliable for use, or if only premium VPNs are suitable, especially when conducting transactions on an exchange. Aside from that, for some people like me, who are not aware of a recommended VPN to use, or which VPNs are trustworthy, it may be better to avoid using one altogether.

I am curious why someone would have to use a VPN to access Binance. I believe Binance always comes up with some idea when they see that their user from some specific region is unable to access their website. Binance has a different domain for the US region. If the market is big enough, Binance may rebrand its product for them. But, I am not aware of any country banned Binance yet.

I live in a country where Bitcoin and all the cryptocurrencies are banned. Still, exchanges are not officially banned. We can still access these websites and apps. But if someone needs a VPN to access the website or apps, they should use paid VPNs. Nothing is free in this world. When something is free, then you are the product. Free VPNs always collect users' information.

[Altcoin1998$]

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

Crypto currency is not legal in our country like other countries of the world but it is strictly banned by the government. The political context of our country does not support this type of currency because the political stability of our country is not conducive to currency at all. If this currency is accepted in our country, then the government body will not be able to control this currency, moreover, the central bank is against this currency, so the central bank will not be able to control this currency in any way.
However, since crypto currency is illegal in our country, it is not possible to give permission to central exchanges. However, many Bitcoin users in our country use centralized exchanges to protect privacy. Users in our country usually convert bitcoin to taka and taka to bitcoin through P2P trading.

[Cheema02]

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?

In Pakistan cryptocurrencies are not explicitly banned but are not supported by the Pakistan Telecommunication Authority
PTA. The government hasn't legalized or regulated them officially. I think Concerning Centralized Exchanges CEX The government maintains a close eye on Centralized Exchanges and periodically issues advisories about the dangers of trading on these platforms. But as of yet no firm regulatory structure has been established.

[DabsPoorVersion]

That's another reason why we shouldn't consider using a VPN. I am uncertain whether free VPNs are reliable for use, or if only premium VPNs are suitable, especially when conducting transactions on an exchange. Aside from that, for some people like me, who are not aware of a recommended VPN to use, or which VPNs are trustworthy, it may be better to avoid using one altogether.

I am curious why someone would have to use a VPN to access Binance. I believe Binance always comes up with some idea when they see that their user from some specific region is unable to access their website. Binance has a different domain for the US region. If the market is big enough, Binance may rebrand its product for them. But, I am not aware of any country banned Binance yet.

I live in a country where Bitcoin and all the cryptocurrencies are banned. Still, exchanges are not officially banned. We can still access these websites and apps. But if someone needs a VPN to access the website or apps, they should use paid VPNs. Nothing is free in this world. When something is free, then you are the product. Free VPNs always collect users' information.

If you are in a country where the Binance app or website has been fully blocked, then the only way to access it is by using a VPN. In our country, Binance may face a similar blockage in the future. Starting from November 29, 2023, they will have to register their exchange in our country to avoid being blocked from operation.

I'm unsure about your country's crypto policies. However, if crypto users still have access to exchanges despite the ban, then exchanges are most likely exempt from the government's restrictions.

[Learn Bitcoin]

If you are in a country where the Binance app or website has been fully blocked, then the only way to access it is by using a VPN. In our country, Binance may face a similar blockage in the future. Starting from November 29, 2023, they will have to register their exchange in our country to avoid being blocked from operation.

I'm unsure about your country's crypto policies. However, if crypto users still have access to exchanges despite the ban, then exchanges are most likely exempt from the government's restrictions.

Oh oh. I don't think there is anything wrong with their decision. Surely the government wants to make money from the businesses that operate in your country. If Binance refuses to register there, the country might block them. To avoid any drama, the exchange users should move their funds out of the exchange before the date. If they register later or if you guys can access the platform after the ban, then you may still use them.

Sometimes using a VPN is not secure as well. The platform can flag your account because of the location change. I don't know how securely binance operates. But, I noticed that If I change location, facebook warns me that my account was accessed from this and that location.

[James Anderson]

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