Orca to block US traders

After updating its trading restriction, the firm announced it will block US users from the end of the month.

Solana-based decentralized cryptocurrency exchange (DEX) Orca will block US traders from its website beginning March 31.

The firm is in the process of “adding the US to the regions and countries which are restricted from trading on orca.so”.

However, the policy “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 the website, the company said.

Over the last week, the exchange had $280m in trading volume, with more than $634m in February and a total value larger than $46m locked in Solana smart contracts, according to multichain stats data analysis, DefiLlama.

Orca is one of the decentralized exchanges (DEX) used by the Jupiter key liquidity aggregator for Solana. Traders wishing to interact with Orca smart contracts may use an alternative method via Jupiter’s website.

Centralized crypto exchanges that do not hold a licence to operate in the US have blocked American users to avoid breaching the country’s regulations. However, several DEXs have not been so vigilant.

Unlike centralised exchanges that hold a database controlled by the developer, DEXs have found a way around geographical bans.

Companies either use a virtual private network to hide their internet protocol addresses or connect directly to the blockchain through development frameworks like Hardhat or Truffle.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Isabella Aslam


Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

Similar News