Decentralized crypto exchange Bancor announced that US users are banned from crypto trading on its platform starting from July 8. The announcement cited the uncertainty in the US crypto laws as the reason behind this strong decision. This announcement comes from the official blog post of the company.

The post stated that this move would enable the Bancor community to innovate faster with better clarity. However, the statement clarified that users from the US can still log-in, hold tokens and transfer tokens from the US and only the convert feature will turn off. It is not really clear why Bancor has come up with this decision. But, the regulatory troubles faced by another decentralized exchange (DEX) Etherdelta could better illustrate the challenges of operating these services in the US.

The uncertainty over crypto laws is forcing major companies to terminate their services in the country. Recently, Binance, one of the largest crypto exchanges in terms of trading volume, blocked access to its main website for the US-based traders.