ApeCoin Staking Site Blocked In Multiple Countries Including US

ApeCoin Staking Site Blocked In Multiple Countries Including The US!

Earlier today, Blockchain company Horizen Labs, who is in charge of creating and managing the long-awaited staking system for Bored Ape Yacht Club’s token ApeCoin, has revealed that the official site to stake $APE, Apestake.io, may be difficult for some people around the world to access

GeoBlocked Site

Due to certain regulations, the website which will launch on December 5th, will be Geoblocked in a number of major countries including the United States, Canada, North Korea, Syria, Iran, Cuba, Russia, Crimea, Donetsk, and Luhansk.

Ape Staking Update: Big thanks to the talented community devs for their helpful improvements. Bug Bounty AIP delayed us a bit, so we shortened the pre-deposit period by a week to keep our original 12/12 go-live. Alternate front-end sites going live. See card. pic.twitter.com/mgmP7X3SwQ

— Horizen Labs (@HorizenLabs) November 24, 2022

“We are aware that geoblocking some users in North America is inconvenient for many members of the ApeCoin community. Unfortunately, in today’s regulatory environment, we had no good alternative.” The team wrote.

Related: Japan Begins Working on CBDC Partnering with 3 Megabanks

Community Backlash

Understandably, this announcement caused Horizen Labs massive backlash from the community, who argued that the team should have notified this fact much earlier.

Despite the fact that users from the listed countries won’t be able to access the staking site directly however, there have been speculations and sumors surrounding the staking system that users could still be able to stake through front-end sites or by using VPNs.

Am I missing something or did Apecoin council basically just say

"Hey! So we found out staking Apes in America is illegal… but here's how you can work around it and shift all liability from us to you 😁"

— Cirrus (@CirrusNFT) November 24, 2022

And although this speculation hasn’t been confirmed or denied by the team, it has also received a fair share of criticism from the community as well. With some users arguing that this will open a door for many scammers and hackers to create fake Apecoin staking sites in the future.

Related: Kraken Jesse Powell: U.S Crypto Regulations Are Forcing Investors Out Of The Country

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