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Exchanges Censoring Accounts Based On Location Is Anti-Crypt...

Exchanges Censoring Accounts Based On Location Is Anti-Crypto- Numex CEO

Numex CEO Khalifa Saber has expressed his disappointment over recent trend of financial Censorship by exchanges which he believes is the very opposite of what Crypto stands for.

He said:

“Bitcoin and other Cryptocurrencies were meant to usher in an era of financial sovereignty for anyone and everyone. Censorship resistance is the goal. Although I would not blame the exchanges who bow to the pressure but, it is quite disappointing.”

This was said in light of recent shutdown of accounts by binance. Several users of Binance had complained about having their accounts shut down. It seems like Serbia is the country with most affected users, but citizens from Bosnia and Herzegovina and Belarus also reported the same issue.

This came only a couple of weeks after Iranians received notifications to withdraw their funds from the Malta-based exchange, it seems like Binance is now shutting down users from several Eastern European countries. Many of them received a message such as this one when trying to log in:

This isn’t limited to binance alone. Bittrex has also been reported to shutdown accounts owned by Iranians and trapping their funds.

Khalifa also assured that Numex users would not encounter such. “Numex aims to excel in areas where other exchanges have issues of which Censorship is one”


Bitcoin participant since 2014 - Online tech journalist

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