Exchanges

Bittrex Bans US Customers From Trading OmiseGo, Status, Melon and Many More

from Trust Nodes 4 years ago 0 0 886

Bittrex, one of the biggest crypto exchange, has stated US customers will be unable to trade numerous coins and tokens starting later this month.

“U.S. Customers will be sent an email communication from Bittrex that provides guidance on what they can and cannot do with their affected Tokens/Coins in connection with this change before an affected market is no longer accessible,” they said.

Non-US residents are unaffected. Americans, on the other hand, can no longer trade on Bittrex OmiseGo, Status, Melon and many other more, including coins like NXT.

The ones starting with ADT are to stop trading on June 21st. The ones above starting with ADX are to stop trading on June 28th. Both apply to US customers only. They say:

“Certain markets will soon become unavailable to U.S. Customers. Those markets will generally continue to be available to Bittrex International customers.

Currently, Bittrex International features 200+ tokens and coins for non-US Customers and we anticipate that we will continue to add innovative blockchain projects to Bittrex International in the future.”

It isn’t clear whether these are the only markets to be banned for US customers or whether more are to be announced, with Bittrex further not stating why they have taken this decision, only saying:

“Like other industry participants, we will continue to advocate for laws and regulations that foster innovation.”

Customers will continue to be able to withdraw these cryptos. Where eth based tokens are concerned, many, if not most of them, are available on ethereum decentralized exchanges.

Ethereum, bitcoin, and a few other top coins, are unaffected. Melon dropped on the news as Bittrex seems to be their primary market, albeit with tiny volumes of circa $15,000. The other two tokens appear to be unaffected.

Ethereum, on the other hand, is rising a bit as is bitcoin. The reasons are numerous, but, both have gained complete regulatory certainty in US, unlike presumably the above tokens and coins.