Bittrex trading platform announced that it will stop its United States users from trading in more than 30 cryptocurrencies. The coming altcoin news was revealed in a blog post that the exchange published a few days ago.
According to the blog post, June 21 will be the day when the U.S. Traders will no longer be able to access 32 cryptocurrencies that were listed on the exchange including STORJ and QTUM. The Bittrex trading platform noted that all of the United States users will receive an email that contains explanation of why they will no longer be able to trade the listed assets. The options that were included in the email by the trading platform include selling them for assets that will still be available to the users, moving the orders off of the exchange and canceling the orders.
After the decision comes into forces, the customers from the States will no longer be able to buy and sell the coins while all open orders that involve the listed assets will be canceled. Some limited functionality regarding the assets will still be available for the traders and the coins left there will be transferred to the Bittrex International Trading platform. We can read more from the blog post:
“U.S. Customers may withdraw or continue to hold in their Bittrex wallet affected Tokens/Coins for as long as Bittrex International supports a market in those Tokens/Coins.“
Bittrex International is a Bittrex trading platform based in Europe which lists multiple tokens that are only available on the international platform and not to the United States Users. As reported previously in the latest cryptocurrency news, back at the beginning of March this year, the crypto exchange canceled its first Initial Exchange Offering (ICO) which it was planned to host on the Bittrex International platform.
Also, the decentralized exchange developed by one of the largest cryptocurrency exchanges-Binance which aims to block all website access to users based in 29 including the United States. Previously, Bittrex was denounced by the New York Department of Financial Services (NYDFS) for its allegedly inadequate policies and controls regarding its Anti-Money Laundering (AML) practices, Know Your Customer (KYC) and the Office of Foreign Assets Control (OFAC) standards. At the event, the NYDFS denied a BitLicense application from the American exchange Bittrex as well.
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“With Skyweaver using Ethereum, it means you can send your cards to your friends, trade them with other players on our platform, trade them on another website, buy/sell them on Reddit, burn them, lend them to people that want to play with your cards while you are on vacation, etc. Basically, we can't prevent you from doing whatever you want with these cards, just like physical cards.”SkyWeaver is now working in a private beta and is expected to launch later this year and in the meantime Horizon is inviting new players to try out the game every week as we read in the reports in the coming altcoin news.
Crypto Exchange Poloniex Drops 23 Pairs Due To Low Volume
‘’We will be removing 23 trading pairs on August 16, 2019, due to low volume. Note that each asset will continue to be independently tradable.’’More than half of the listed pairs are in ETH, about six are XMR pairings and the rest are stabelcoin pairs for the various obscure altcoins. Some of them include Loom Network/ USDT which has $50 traded in the past day, Status/USDT with just $157, Bancor/USDT trading only $75 per day, FOAM/USDC and the worst performing pair which is the Khyber Network/USDT. Some of the ETH pairs were popular altcoins with high volumes such as Golem, Qtum, GAS, Steem, OmiseGO and Civic but after bitcoin, Ethereum and Zcash as top pairs on the exchange, all others burst into flames. The Monero paris aside from BTC and stablecoins will also be dropped because of the low volumes. This could only be the case of falling volume on that particular exchange because the same pairs on Binance are doing really well. Compared to two years ago in 2017, the altcoin scene looked a lot different than today and many of the altcoins have now falled off the digital cliff in terms of token price regardless of other developments on the project by the respective teams. Two years ago in August, IOTA was the fifth largest cryptocurrency by market cap which was priced at $0.94 with a $2.6 billion market cap. Today as we can read in the latest cryptocurrency news, IOTA is struggling to say in the top twenty and is down by more than 75%. The Crypto Exchange Poloniex drops the pairs and we shall see if any major fluctuations will happen.
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