Crypto Exchange Bittrex Shuts Down Its US Arm
U.S. regulations are getting tougher for crypto firms, and many are drawing their conclusions.
The American regulations are making it harder for crypto companies and many are drawing their conclusions. That also applies to the exchange Bittrex.
The crypto exchange Bittrex, founded in 2014, is therefore leaving the U.S. That was announced by the company on March 31. The reason, per the announcement, is the "uncertainty around law and regulation" in the U.S. Continuing the operation is therefore no longer economically justifiable.
Customers can still withdraw their money until the end of April. This applies only to Americans. Global operations outside the U.S. will continue, the company says.
Bittrex is just one of the many crypto companies facing tough regulation in the U.S. Since the start of the year, the entire sector has been a target. Most recently, the American crypto exchange Coinbase got a warning from the SEC. The regulator threatened legal action against the company's in-house staking products.
