• Bittrex, a popular crypto trading platform, announced that it will be ceasing its operations in the U.S. due to regulatory uncertainty in the country’s crypto space.
• The firm has assured customers that all funds are safe and immediately available for withdrawal before April 30, 2023 when trading will cease.
• Richie Lai, Co-founder and CEO of the company, expressed that the present crypto regulations in the U.S. were rather ambiguous and had created an unfavorable business environment.
Bittrex to Cease U.S Operations
Popular cryptocurrency trading platform, Bittrex, has announced it will be ceasing operations in the United States beginning from next month due to regulatory uncertainty surrounding the U.S. crypto space. Ironcially, this announcement was made on their ninth anniversary celebration day and users have been advised to withdraw their assets from the platform by April 30th 2023 before trading ceases on April 14th 2023.
Funds Are Safe
Bittrex has assured its U.S customers that all funds are safe and immediately available for withdrawal if they wish to do so before April 30th 2023 when trading will cease completely on its US branch of services.
Unclear Regulations Make It Unviable
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 within this sector which creates an uneven competitive landscape for businesses operating there within this sector specifically with regards to compliance requirements being enforced without discussion or input from affected stakeholders such as businesses providing these services within this sector specifically platforms like Bittrex which no longer seems economically viable for them at present time within this market as a result .
Focus Will Now Be On Global Branch
Richie Lai then went on to appreciate the success recorded by Bittrex in the U