• Bittrex, a cryptocurrency exchange, is shutting down its U.S. operations due to „continued regulatory uncertainty“ in the U.S. market.
• All funds are safe and can be fully withdrawn immediately, but the last full day users can withdraw their cryptocurrency is April 29 and the last day to submit fiat withdrawals is April 24 at 5 p.m. PDT for wire and April 27 at 5 p.m. PDT for ACH.
• The announcement comes as U.S. regulators increase their enforcement efforts against cryptocurrency trading platforms, such as issuing a Wells notice to Coinbase and filing charges against Kraken over the exchange’s staking program
Bittrex Shuts Down US Operations
Cryptocurrency exchange Bittrex is shutting down its U.S. operations due to „continued regulatory uncertainty“ as U.S regulators increase their enforcement efforts against cryptocurrency trading platforms.
All Funds Can Be Withdrawn Immediately
Bittrex emphasized that the closure does not affect non-U.S customers using the Bittrex global platform and that all funds are safe and can be fully withdrawn immediately.
Last Days of Withdrawals
The last full day users can withdraw their cryptocurrency is April 29th and the last day to submit fiat withdrawals is April 24th at 5 p..m PDT for wire and April 27th at 5 p..m PDT for ACH.
Regulatory Scrutiny Increases
Richie Lai, CEO and co-founder of Bittrex, said: „It’s just not economically viable for us to continue to operate in the current U.S regulatory and economic environment.“ In addition, SEC Chairman Gary Gensler has asked for more funding for his agency to combat misconduct in the crypto space while Commodities Futures Trading Commission (CFTC) has filed a complaint against Binance.
Conclusion
In conclusion, due to increased regulation in the U.S., Bittrex has decided it will be shutting down its US operations on April 30th 2023 with all funds able to be withdrawn before that date either through wire or ACH transfers from banks or cryptocurrency wallets respectively