• Bittrex has announced it will be ceasing operations in the United States beginning from next month.
• This move comes as a result of the ongoing regulatory uncertainty surrounding the U.S. crypto space.
• Bittrex has assured its U.S. customers that all funds are safe and immediately available for withdrawal.
Bittrex to Cease US Operations
Popular cryptocurrency trading platform, Bittrex, has announced it will be ceasing operations in the United States beginning from next month due to the ongoing regulatory uncertainty surrounding the U.S. crypto space.
Crypto Funds Safe and Available for Withdrawal
Bittrex has assured its U.S. customers that all funds are safe and immediately available for withdrawal before April 30th, 2023 when trading is expected to cease on the platform completely . Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
Unclear Regulations Not Good For Crypto
Commenting on Bittrex’s latest announcement, Richie Lai, Co-founder and CEO of the company, stated that it was not “economically viable” to continue operations in the U.S., due to unclear regulations which have created an unfavorable business environment for crypto businesses in America. He stated: “Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape.”
Growing Concerns Over The U.S Crypto Space
It is no news that there have been growing concerns over regulation of cryptocurrency exchanges and businesses in the United States with several companies being shut down by regulatory bodies recently due to their failure to comply with current regulations..
Focus Shifting To Global Branch
Lai then went on to appreciate the success recorded by Bittrex in the U.S while stating that their main focus would now shift towards their global branch: “In the end, we made great strides toward accomplishing our goal of maturing the crypto space”. He added: “However operating in US is no longer feasible, Bill Rami and I will focus on helping Bittrex Global succeed outside US”