Bittrex Shuts Down Trading Of 32 Cryptocurrencies To Its U.S. Clients
The crypto exchange platform Bittrex announced that the company is shutting down trading operations for its U.S. clients for 32 cryptocurrencies. The date for the restriction is set to June 21st 2019. All international clients can continue using the platform without having restrictions on the trading activities on the 32 crypto currencies.
Bittrex made available to the mass public very limited information on the reasons behind their decision in their blog posts. The organization, however, assures all of its US-based clients that they will receive an email with instructions on what to do and how to transfer or exchange funds to other cryptocurrencies or fiat.
The cryptocurrency trading process will remain intact until the official introduction of the restriction on 21st June.
All international clients are being prepared for a migration from Bittrex to Bittrex International, in order to continue the free trading of the 32 cryptocurrencies. The preparation has started from the recent update of the FAQ section on Bittrex website concerning the transition.
Bittrex warns its US customers that all open orders with any of the 32 cryptocurrencies must be manually closed or withdrawn from the platform. After the 21st June, no buying, selling or exchanging will be available, however US clients can still hold their affected tokens in their wallets and withdraw them even after the deadline.
Interestingly, there are rumors across the online space, claiming that the restrictions will not happen. On the contrary, the company is even trying to become much more law compliant and open to innovations, as long as they all innovations are subject to regulations.
Bittrex currently allows trading of over 200 coins and tokens on their Bittrex International platform. The company have set a plan of continuous expansion of the offered crypto assets through their platform.