Bittrex one of the major cryptocurrency exchanges in the world just announced that it will block users based in the United States from trading in about 32 cryptocurrencies. The exchange posted the news on their blog on the 7th of June.
As regards the announcement, after the 21st of June, United States traders will not be able to access a number of coins listed on Bittrex, including STORJ and QTUM.
The exchange noted that United State users will get an email with details on the do’s and don’ts of the above mentioned assets. The options the exchange cited consists of trading them for assets that will be available to them, moving them off the exchange and cancelling orders.
Once these changes come into effect, United States users will not be able to trade these coins, while all open orders linked to these assets will be canceled immediately. Limited functionality regarding these virtual assets will still be accessible to traders in United States and the coins/tokens will be transferred to the Bittrex’s International platform:
“U.S. Customers may withdraw or continue to hold in their Bittrex wallet affected Tokens/Coins for as long as Bittrex International supports a market in those Tokens/Coins.“
Bittrex International is still under the parent company of Bittrex. They are just Bittrex’s affiliate based in Europe. They list some tokens that are only offered on the Bittrex International website but not to United States users.
As Cointelegraph stated in the middle of March, Bittrex called off its first Initial Exchange Offering. For months, they have been preparing to host this IEO on Bittrex International.
Just last week, the decentralized cryptocurrency exchange established by top crypto exchange Binance will also deny access to users in 29 countries, including the United States.
As Cointelegraph stated this week, BTC (bitcoin) trading volumes on top crypto exchange Coinbase hit a new high of 263,000 BTC on the 12th of May, a volume that hasn’t been seen since the 4th of February, 2018.