{"id":19459,"date":"2023-04-04T02:57:59","date_gmt":"2023-04-04T02:57:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/another-crypto-exchange-has-decided-to-exit-the-u-s\/"},"modified":"2023-04-04T02:57:59","modified_gmt":"2023-04-04T02:57:59","slug":"another-crypto-exchange-has-decided-to-exit-the-u-s","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/another-crypto-exchange-has-decided-to-exit-the-u-s\/","title":{"rendered":"Another crypto exchange has decided to exit the U.S."},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/172454329_m_normal_none-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/172454329_m_normal_none-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/172454329_m_normal_none-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/172454329_m_normal_none-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bittrex is quitting the United States due to regulatory uncertainty.<\/li>\n<li>The crypto exchange will now commit to growing Bittrex Global.<\/li>\n<li>CEO Lai says customer funds are safe and available to withdraw.<\/li>\n<\/ul>\n<p>Bittrex was in focus on Monday after the crypto exchange said it\u2019s about to wind down its operations in the United States.<\/p>\n<h2>Why is Bittrex quitting the U.S.?<\/h2>\n<p>The Seattle-headquartered firm attributed the move to continued regulatory uncertainty in the U.S. Customers were relieved, though, after CEO Richie Lai <a href=\"https:\/\/bittrex.com\/discover\/important-message-for-bittrex-u-s-customers\" target=\"_blank\" rel=\"noopener\">confirmed<\/a> that their funds were safe.<\/p>\n<blockquote>\n<p>All customer funds are safe and available to withdraw; however, it\u2019s just not economically viable for us to continue in the current U.S. regulatory and economic environment.<\/p>\n<\/blockquote>\n<p>The platform will be available for trading until April 14<sup>th<\/sup> but customers will be able to withdraw funds through the end of this month, he added.<\/p>\n<p>In February, Bittrex had <a href=\"https:\/\/coingeek.com\/bittrex-lays-off-83-employees-amid-unfavorable-macroeconomic-market-conditions\/\" target=\"_blank\" rel=\"noopener\">cut 83 jobs<\/a> citing market downturn.<\/p>\n<h2>What\u2019s next for Bittrex exchange?<\/h2>\n<p>The crypto exchange will now commit to growing Bittrex Global \u2013 its platform for customers outside of the United States that will remain operational.<\/p>\n<p>In October, a U.S. regulator announced <a href=\"https:\/\/decrypt.co\/111676\/treasury-fines-bittrex-53-million-sanctions-violations\/\" target=\"_blank\" rel=\"noopener\">a $53 million fine<\/a> on Bittrex for failing to meet anti-money laundering requirements and not blocking users from sanctioned countries, including Iran and Cuba. According to CEO Lai:<\/p>\n<blockquote>\n<p>Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape.<\/p>\n<\/blockquote>\n<p>Bittrex was founded in 2014. It\u2019s leaving the U.S. only shortly after peer <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-05\/crypto-lender-nexo-to-exit-us-after-facing-regulatory-scrutiny#xj4y7vzkg\" target=\"_blank\" rel=\"noopener\">Nexo Inc<\/a> announced a similar decision after facing regulatory scrutiny.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bittrex-to-exit-the-u-s\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bittrex is quitting the United States due to regulatory uncertainty. The crypto exchange will now commit to growing Bittrex Global. CEO Lai says customer funds are safe and available to withdraw. Bittrex was in focus on Monday after the crypto exchange said it\u2019s [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":19460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19459"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19459"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19460"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}