Gate.io banned some countries

[Imran232]

i am shareing this here because maximum of users exploring this section. If you are from in any countries please withdraw your fund.

1st source and link

2nd source and link

Though the reason of ban still not disclose yet. Lets see what comes out. But we should play safe game that is why i already withdraw my fund. Because i am from one if those country.

[jackg]

I've heard they don't have a very good reputation and seem a bit scammy too so it might not be a good idea to use them at all - especially when there are better and safer options out there.

It seems weird to see the US, Syria, Iran and China on the same list though - presumably it's due to regulations in those countries though.

[OmegaStarScream]

From what I found they were based in China, and then moved to the U.S. Not sure how accurate the info is but regardless, does anyone knows how is it possible that the KYC was mandatory and at the same time, they still served users from Iran, Syria, and Cuba when no other exchange could?

[AlexGC]

gate.io deposit wallet
https://glasschain.org/btc/wallet/88726437

Is it kyc only? One could now see excess withdraws i assume into other exchanges?

[Ararbermas]

Though the reason of ban still not disclose yet. Lets see what comes out. But we should play safe game that is why i already withdraw my fund. Because i am from one if those country.

to be honest with you mate even my country isn't listed above i will really dump my funds immediately because obviously it's not safe anymore to store in it, and surely that platform will stop their service without knowing because of that reason.


Infact even when i see the news about binance that will freeze some account because of the problem in Russia it really scared me. And imagine i'm too far from that country.lol so how much more on that situation of gate.io?  It's really not safe to be honest..

[Imran232]

I've heard they don't have a very good reputation and seem a bit scammy too so it might not be a good idea to use them at all - especially when there are better and safer options out there.

Yes there are lots of safer option but people actually used when they need for trade some altcoin what only listed this type of exchange. I also used for the same purpose.

It seems weird to see the US, Syria, Iran and China on the same list though - presumably it's due to regulations in those countries though.

Possible. Because it is good and reputated exchange also. Maybe regulations problems will be the reason.

<....> they still served users from Iran, Syria, and Cuba when no other exchange could?

Actually they serve their service in lots of countries where crypto is illegal including my country.

Though the reason of ban still not disclose yet. Lets see what comes out. But we should play safe game that is why i already withdraw my fund. Because i am from one if those country.

to be honest with you mate even my country isn't listed above i will really dump my funds immediately because obviously it's not safe anymore to store in it, and surely that platform will stop their service without knowing because of that reason.

<...........>

Yes its a choice of users because there are lots of safer and best alternatives too.

[zasad@]

I traded on this exchange and I always thought it was an American exchange.
https://ru.bitcoinwiki.org/wiki/GATE.IO
"Gate.io launched in the fall of 2017.
The platform is part of Gate Technology Inc, and is registered in Virginia, USA."
Now I don't understand why an American company will stop working in the USA?

[SFR10]

It seems weird to see the US, Syria, Iran and China on the same list though

I'm more surprised at seeing Canada in there...

Not sure how accurate the info is but regardless, does anyone knows how is it possible that the KYC was mandatory and at the same time, they still served users from Iran, Syria, and Cuba when no other exchange could?

AFAICR, they've stopped offering services to two of these countries a few years back, so I strongly believe the above tweet is slightly inaccurate!
I just "saw a few other countries" when I'm visiting their website, but at the same time, there's also "this ^[archived]".

[mindrust]

I traded on this exchange and I always thought it was an American exchange.

I always thought they were a Chinese exchange somehow... This came as a surprise if they are really an American exchange.

Now I don't understand why an American company will stop working in the USA?

The US gov asks too much information from them probably. Most online casinos also don't accept any customers from the US.

[ololajulo]

Gate is owned by a an asian guy Lin Han but it is located in Cayman island, same location for binance. Gate has restriction many other countries and has always been difficult to pass their KYC. IMO irrespective of the ban on countries and account, fund should be accessible for transfer to other account even after deadline.
.

[tabas]

Good and crypto friendly countries have been included. There seems to be a big reason why they have to do that.

IMO irrespective of the ban on countries and account, fund should be accessible for transfer to other account even after deadline.

That's what they did, there's at least more than a month for those users who are located on those banned countries to withdraw their funds. And whoever misses that losses their fund forever and it'll be taken by gate.io.

[coupable]

From a neutral perspective, this is a centralized and it has the right to apply any restricted rule. What's going on is commonly known about this kind of exchanges.
Everybody registered in gate.io exchange should be aware about this even his country doesn't belong to the announced list.

Though the reason of ban still not disclose yet. Lets see what comes out. But we should play safe game that is why i already withdraw my fund. Because i am from one if those country.

As this ban still not disclose yet, I think this is the first step to ban Russian users without community taking attention like it's not the only banned country.

[Maidak]

Damn, the holy shit! No exchange is going to be used in peace nowadays. why it banned USA!! isn't it a USA-based exchange service!!

Looks like it boosted my work a bit, here I trade but I do not understand why it banned the USA for no reason!

BTW thanks man for sharing this, I have to move funds from this shitty exchange as soon as possible, I don't know if they have increased the withdrawal fee or not.

Last time Bilaxy did the same thing and increased the withdrawal fees as well.

[JeromeTash]

to be honest with you mate even my country isn't listed above i will really dump my funds immediately because obviously it's not safe anymore to store in it, and surely that platform will stop their service without knowing because of that reason.


Infact even when i see the news about binance that will freeze some account because of the problem in Russia it really scared me. And imagine i'm too far from that country.lol so how much more on that situation of gate.io?  It's really not safe to be honest..

Not just Gate.io. it's not safe to keep funds in any exchange, especially if one is not trading for a long time. Always use noncustodial wallets

I traded on this exchange and I always thought it was an American exchange.
https://ru.bitcoinwiki.org/wiki/GATE.IO
"Gate.io launched in the fall of 2017.
The platform is part of Gate Technology Inc, and is registered in Virginia, USA."
Now I don't understand why an American company will stop working in the USA?

It's hard to pinpoint the exact origin or location of HQ of such exchanges. Most unregulated exchanges try to play this game of hide-and-seek with regulatory bodies. Binance also used to the same.

[hosseinimr93]

According to "User Agreement" which has been shared on their website, the list of restricted countries is wider.
In addition to the countries listed in the tweet shared by OP, people from North Korea, Sudan, Crimea region and Kyrgyzstan are also prohibited from using gate.io.

Use of the service by users from the United States of America, Mainland China, Canada, Singapore, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, Crimea region, Bangladesh, Bolivia, Ecuador, Kyrgyzstan is prohibited. In addition, any users in Hong Kong China, UK (retail users only), Netherlands, Germany, France, Lithuania, Italy are prohibited from using products and services provided by this website other than the spot trading.

[dkbit98]

I am not sure if it's possible to use Gate exchange without kyc and I never used it, so I don't really care what countries they banned or allowed.
It is surprising to see they are still in top ten exchanges by volume according to coingecko, and they have a very good rating but I would take that with reserve.
Never keep any coins on centralized exchanges and you won't worry much when/if they ban your country.

[Potato Chips]

https://twitter.com/WatcherGuru/status/1503007506854993920?

This doesn't look like a "JUST IN" for a lot of countries listed... Cuba, Iran, Syria, and Venezuela have long been banned from gate.io which I don't think was ever lifted.

Other countries have also started showing up in the restricted list a month ago according from this reddit thread

I just went to gate.io to open an account. Everything I've seen says US citizens are able to join, but as soon as I clicked on join I got this popup:

" Citizens and residents of the U.S.A, Canada (Ontario and Quebec), Malaysia, Singapore and Malta are prohibited entirely, Japan and Brazil are only allowed to trade whitelisted cryptocurrencies which are strictly selected based on the local lawyer’s options and regulations in the locations respectively. "

I continued on to the first page of starting an account and read at the bottom of that page in red

" ***!***Citizens and residents of United States, Ontario and Quebec of Canada, Cuba, Iran, North Korea, Sudan, Syria, the Government of Venezuela, Crimea, Bangladesh, Bolivia, Ecuador, Kyrgyzstan are not supported."

I've been to these pages before and I remember disclaimers, but I'm pretty sure this is new. Have we been banned, does anyone know?

I am not sure if it's possible to use Gate exchange without kyc and I never used it,

To sum it up, you can deposit and trade but won't be able to withdraw until you KYC. The whole thing was ambigous to me, see: Does Gate.io requires KYC. If someone says they felt trapped, I'm not gonna argue about it.

[bbc.reporter]

I've heard they don't have a very good reputation and seem a bit scammy too so it might not be a good idea to use them at all - especially when there are better and safer options out there.

It seems weird to see the US, Syria, Iran and China on the same list though - presumably it's due to regulations in those countries though.

Those 4 countries are certainly not weird to be in their list of banned countries. Syria and Iran are 2 countries that are sanctioned by America. China has banned the cryptospace in their jurisdiction and America is a compliance problem and it would clearly be better for a small exchange to avoid.

However, agreed. I am not certain of gate.io's reputation but if you are forced to KYC, do it with bigger exchanges similar to FTX or Binance.

[Husires]

I checked the fees and they don't look attractive, their average fees are higher than many of the well known platforms. https://withdrawalfees.com/exchanges/gateio
The trading volumes are also much lower than the popular platforms.

• I can understand why the US, Syria, Cuba, Vietnam, Iran were not included because of US legislation and the strictness of US regulations.
  
• What I don't understand is countries like Canada, Malaysia, they seem neutral and most platforms don't ban those countries.
  

It seems that the countries allowed to work are few, and even those countries, the account can be frozen at any time

[YOSHIE]

I don't know they use Gate.io exchange or not, because I saw there is a list of Singapore & Malaysia of course I have to contact them to inform about this, OP thanks for informing about Gate.io exchange.

Binance used to do the same thing especially in Singapore, now Gate.io, I don't know what the motivation behind this ban is, I hope, some of my relatives in Singapore will immediately evaluate this, before something untoward happens.

I hope that in the future Singapore will have an official exchange from the government itself, it won't be a problem anymore as it is now, considering that many Singaporeans are interested in Crypto lately.