ApeCoin Its developers announced on Wednesday that users residing in the United States and Canada will not be able to take advantage of the ApeStake service, which is expected to be available soon.
Among the countries where the staking service is blocked United States of America, Canada, North Korea, Syria, Cuba and Russia countries such as The addition of the USA and Canada alongside other authoritarian countries has had wide repercussions in the crypto community.
$APE staking will be geoblocked for the US and Canada.
Probably expected, but not great either way. pic.twitter.com/EL7A1dbhPv
— wab.eth ❁ (@wabdoteth) November 24, 2022
The ApeCoin team made a note of the announcement that it took the decision to block the USA and Canada on the grounds that “the regulatory environment in the countries did not leave them any alternative”.
U.S. Securities and Exchange Commission SEClast month ApeCoin and Yuga Labs He announced that he had started a research on the subject. The SEC announced that no charges were filed, just a review of the project.
The American regulatory agency has caused major problems for companies that offer crypto-based lending services such as Nexo in the past. Yuga Labs developers may not want to provide staking services to US users to avoid a similar situation.
What is ApeStake? When will be opened?
ApeStakeis a staking platform that aims to increase the participation of investors holding ApeCoin in the project’s DAO management system. According to the statement on the website, ApeStake.io will officially launch on December 5, 2022. The distribution of stake rewards will begin on December 12.
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