Bittrex set to block US residents from 32 crypto assets

Exchanges • June 8, 2019, 10:12AM EDT
UPDATED: June 10, 2019, 11:58AM EDT
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Cryptocurrency exchange operator Bittrex is set to wall off over 30 cryptocurrencies from its American traders, the firm announced in a blog post Friday.

The announcement follows a similar move by Poloniex, another US-based exchange, which "geo-fenced" 9 assets from its American clients, both a sign of the uncertain regulatory climate in the digital asset market. 

Bittrex, which offers trading of over 200 cryptocurrencies, said customers will be sent an email communicating how the delisting process will impact their holdings. Trading of the soon-to-be banned coins will cease on June 21. Customers have the option to store their coins on a Bittrex wallet after that date. 

"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," the firm said. 

QTUM, STORJ, ENG, MFT and FCT are among the coins being walled off. 

AUTHOR

Frank Chaparro profile picture Frank Chaparro

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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