Leading Solana DEX to Impose Trading Restrictions for US Users
Due to regulatory uncertainty, one of the leading decentralized exchanges (DEX) built on Solana (SOL) plans to prohibit US customers from trading on its platform.
Orca, the leading decentralized exchange (DEX) on Solana (SOL) blockchain, has announced that it will be imposing restrictions on American traders from March 31, 2023.
The reason for this change in policy has not been disclosed.
However, it’s worth noting that the new restriction will not affect the ability of US users to interact with Orca’s smart contract or software development kit (SDK), nor will it hinder their ability to provide liquidity through Orca.
As per DefiLlama, Orca is presently the leading DEX on Solana with $47.5 million in TVL, followed by Raydium (RAY) with $37.45 million in TVL.
READ MORE: SVB Financial Group Files for Bankruptcy as Bitcoin Soars 40% in a Week
TVL is a metric used to represent the total capital held within a blockchain’s smart contracts.
Orca’s native governance token, ORCA, is currently trading at $0.776, and its market cap ranks 783rd, with an increase of almost 0.4% in the past 24 hours and more than 4.5% in the past week.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
