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Solana-Based DEX Orca to Ban US Customers from Trading on Its Web Interface

Solana-Based DEX Orca to Ban US Customers from Trading on Its Web Interface

Decentralized exchange Orca closes doors for Americans to use its website's interface to trade crypto.

Orca, a Solana-based decentralized exchange (DEX), announced its plans to prohibit US users from trading through its web interface beginning March 31st.

The notice was published on the DEX's official website on March 16th.

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The pop-up notification on the Orca's website read:

Orca will be adding the United States to the regions and countries which are restricted from trading on orca.so effective March 31st, 2023.

On top of that, in the message, Orca highlighted that the change "will not impact the ability of US users to directly interact with Orca's smart contract or SDK, nor will it impact their ability to provide liquidity through orca.so."

It is worth noting that Jupiter uses Orca for sourcing liquidity for its swap aggregator service. Therefore, Jupiter's website could be an alternative for traders looking to interact with Orca smart contracts.

According to data from DefiLlama, in February, DEX did more than $634 million in trading volume and had more than $45 million locked in Solana smart contracts.

While most decentralized exchanges have not imposed such limitations, centralized crypto exchanges lacking US licenses have often blocked Americans from using their services to avoid regulatory issues.

One of the crypto-related firms that banned Americans from using its interface is the 1inch aggregator. The company imposed these measures on September 2021. However, the first one to apply such measures was Binance DEX, which banned US customers from using its interface in June 2019.

Talking about 1inch, at the end of January, the company introduced its first hardware wallet, a 1inch Hardware Wallet.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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