Crypto Exchange Bittrex to Block US Users From Trading in 32 Cryptos
Cryptocurrency exchange Bittrex announced that it will block United States-based users from trading in 32 cryptocurrencies.
The exchange noted that U.S. users will receive an email with explanations concerning what they are and are not allowed to do with the aforementioned assets. The options cited by the exchange include selling them for assets that will stay available to them, canceling orders and moving them off the exchange.
After the change comes into effect, U.S. customers won’t be able to buy or sell the select coins, while all open orders involving said assets will be canceled. Some limited functionality concerning the assets will still be available to U.S. traders and the coins will be transitioned to the Bittrex International platform:
“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 Bittrex’s Europe-based affiliate, which lists certain tokens that are only available on the Bittrex International platform — not to U.S. users.
As Cointelegraph reported in mid-March, Bittrex canceled its first Initial Exchange Offering, which it had been planning to host on Bittrex International.
As Cointelegraph reported this week, bitcoin (BTC) trading volumes on major cryptocurrency exchange Coinbase recently hit a high of 263,000 BTC on May 12, a volume that has not been seen since February 4, 2018.