Bittrex Exchange to Suspend Operations in US

Bittrex Exchange to Suspend Operations in US

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As time passes, more crypto firms are being witnessed suspending operations in the US, but the question is, what exactly is worth making the US environment unhealthy for crypto firms by the US regulators?

Bittrex Exchange is Leaving US Market

As the US financial watchdog continues the scrutinization of crypto firms, crypto firms that could not stand the scrutiny are suspending operations in the country, the latest crypto firm to close down operations in the US is Bittrex.

Bittrex is one of the oldest and largest cryptocurrency exchanges in the US, the exchange was established nine years ago and on the day (March 31) it’s celebrating its nine years of constant operations, it announced that it is leaving the US market, citing an unhealthy regulatory environment.

To address panic customers, the exchange said in the releases that customers’ funds are safe, and users are expected to withdraw their funds on the exchange until April 30, also, trading is still permitted on the platform till April 14.

“Nine years later, the crypto ecosystem is very different. Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” Bittrex wrote in the release.

Bittrex exchange was built by three individuals back in 2013, the owners boast of building technology that was ahead of others at the time, Full-service API, Near instant atomic transactions, Wallet infrastructure, and handling more wallets than anyone, amongst others are fascinating qualities of the exchange. Bittrex has never lost funds to hackers since its establishment nine years ago.

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