Variant's CLO, Jake Chervinsky, says numerous crypto companies are considering geofencing to comply with U.S. regulations. Geofencing involves using IP addresses to restrict access to certain regions. Binance reportedly uses geofencing to block users with American IP addresses. Staking protocol EigenLayer also blocks users from several countries, including the United States. Geofencing is a blunt force instrument but may be necessary to comply with regulations. However, it can also limit access to crypto services for legitimate users. It remains to be seen how widely geofencing will be adopted by crypto companies.