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.
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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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