Pancake status change
Cryptocurrency exchange PancakeSwap has given up its decentralized status. The developers implemented a function in the Binance Smart Chain (BSC) smart contract to block access by IP-address, if it identifies the user as a resident of one of the countries that are on the U.S. sanctions list.
The first DEX platform to comply with the sanctions was liquidity aggregator 1inch, with insiders attributing Pancake's decision to the influence of Binance.
The largest cryptocurrency exchange also adheres to the requirements of the U.S. Treasury Department to implement mandatory IP address verification when exchanging digital assets. It is likely that Binance is related to Pancake, which has collected 38% of TVL investments on BSC.
