Another crypto exchange has decided to exit the U.S.

2023-4-4 05:29

Bittrex is quitting the United States due to regulatory uncertainty. The crypto exchange will now commit to growing Bittrex Global. CEO Lai says customer funds are safe and available to withdraw.

Bittrex was in focus on Monday after the crypto exchange said it’s about to wind down its operations in the United States.

Why is Bittrex quitting the U.S.?

The Seattle-headquartered firm attributed the move to continued regulatory uncertainty in the U.S. Customers were relieved, though, after CEO Richie Lai confirmed that their funds were safe.

All customer funds are safe and available to withdraw; however, it’s just not economically viable for us to continue in the current U.S. regulatory and economic environment.

The platform will be available for trading until April 14th but customers will be able to withdraw funds through the end of this month, he added.

In February, Bittrex had cut 83 jobs citing market downturn.

What’s next for Bittrex exchange?

The crypto exchange will now commit to growing Bittrex Global – its platform for customers outside of the United States that will remain operational.

In October, a U.S. regulator announced a $53 million fine on Bittrex for failing to meet anti-money laundering requirements and not blocking users from sanctioned countries, including Iran and Cuba. According to CEO Lai:

Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape.

Bittrex was founded in 2014. It’s leaving the U.S. only shortly after peer Nexo Inc announced a similar decision after facing regulatory scrutiny.

The post Another crypto exchange has decided to exit the U.S. appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Safe Exchange Coin (SAFEX) на Currencies.ru

$ 0.0054306 (-0.25%)
Объем 24H $1.742k
Изменеия 24h: 1.41 %, 7d: -8.63 %
Cегодня L: $0.0053635 - H: $0.0055227
Капитализация $6.099m Rank 99999
Доступно / Всего 1.123b SAFEX

bittrex crypto exchange says lai ceo global

Источник: coinjournal.net

bittrex crypto → Результатов: 126


Bittrex Exchange Opens Up Shop in Delaware as State Approves Its Money Transmitter License

Crypto exchanges have been expanding rapidly in the last few years to new territories and this is a sign both of their profitability and their popularity across the globe. One new development. However, besides expansion is the fact that the US territories and countries around the globe are now requiring exchanges to register and go […]

2019-6-19 19:36


Фото:

Bittrex Reinvigorates AML Measures with IdentityMind Partnership

Cryptocurrency exchange Bittrex on May 21, 2019, announced that it had partnered with blockchain security solutions firm IdentityMind to bolster its anti-money laundering (AML) measures. Tightening Security Measures The Financial Action Task Force’s (FATF) persistence to establish strict crypto regulations across the globe has weighed down on exchange platforms who have, to date, been followingRead MoreRead More.

2019-5-22 20:00


Bitfinex Announces Tokinex, An IEO Platform With One Key Distinction

The Initial Exchange Offering has galvanized the crypto markets – but until a few days ago Bitfinex, which has endured a tumultuous few weeks, was surprisingly quiet on the subject. While Binance launched Matic and Celer, Bittrex canceled RAID, and exchanges across the globe hopped on a rapidly-accelerating bandwagon, innovation specialist iFinex was uncharacteristically silent.

2019-5-21 14:00


VCC Exchange Partners Bittrex to Open a New Crypto Exchange Platform in Vietnam

Cryptocurrency Exchange working on launching a cryptocurrency platform in Vietnam. The Southeast Asian digital asset exchange is working on establishing a safe, secure and reliable crypto exchange platform for cryptocurrency users in Vietnam in collaboration with Bittrex, according to an announcement by the Platform’s co-CEO Tung Dao. “We are honored to launch our platform with […]

2019-5-15 04:28


Ocean Protocol is Now Trading on Bittrex International After Raising $6 Million in Initial Exchange Offering

With the recent spike in Bitcoin’s price, more and more crypto traders and companies are entering the increasingly expanding cryptoverse. It is true especially for companies involved in expanding the influence and utility of blockchain technology in high-tech areas like data, IoT, smart cities, and more.

2019-5-13 12:15


Bittrex Welcomes Rhode Island Users With Acceptance Of New Money Transmitter License

Bittrex Extends Its Reach To Rhode Islands With Its New Money Transmitter License Today, a leading global crypto exchange Bittrex, added another American state to its fold. This new addition brings Bittrex’s territory to 40 American states, which include but are not limited to Kentucky, Montana, Washington DC, South Carolina, Iowa, Colorado and Massachusetts. Bitlicense […]

2019-4-25 00:29


NY Regulator-Flagged ‘North Korean Crypto Accounts’ Were South Korean: Bittrex

By CCN. com: Four days after New York State Department of Financial Services’ executive deputy superintendent for banking Shirin Emami disclosed in an op-ed that having North Korean users on its platform was part of the reason Bittrex was denied a virtual currency business license, the cryptocurrency exchange has come out forcefully to deny the claim.

2019-4-23 12:53


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Nomura partners with GMO to explore stablecoin issuance in Japan

Nomura Holdings and Laser Digital have partnered with GMO Internet Group on a new stablecoin-focused project. The companies will collaborate in the issuance, redemption and circulation of Japanese yen and US dollar-pegged stablecoins in Japan Nomura Holdings, the Japanese banking and investment giant, is teaming up with GMO Internet Group to explore the issuance of […] The post Nomura partners with GMO to explore stablecoin issuance in Japan appeared first on CoinJournal.

Solana drops as FTX sells $2.6 billion at 38% discount

Solana prices drop 4% after FTX sells $2.6 billion worth of tokens at a 38% discount to Figure Markets and Pantera Capital. The post Solana drops as FTX sells $2.6 billion at 38% discount appeared first on Crypto Briefing.