Bittrex Restricting 30 Tokens to US Investors

Top crypto exchange Bittrex, which currently lists almost 200 cryptocurrencies on its platform, revealed Friday that it will be restricting 30 tokens from its US-based customers.

Starting from June 21, Bittrex will stop offering 30 cryptos to US customers as a measure for the regulatory uncertainties that surround crypto tokens.

Some of the tokens that will be delisted have a high market cap. According to CoinMarketCap data, the total market value of the restricted tokens QTUM, STORJ, ENG, MFT, and FCT is valued at over $469 million.

Bittrex posted on their website the following announcement regarding the georestriction of tokens:

“Effective on June 21, certain markets will no longer be accessible to U.S. Customers.  

This change DOES NOT affect the availability of these markets on Bittrex International for non-U.S. Customers. 

Friday, June 21 

The following markets will transition to Bittrex International on June 21, 2019.

ADT       CMCT    GO         MFT       QRL        XEL

AMP      DNT       GTO       MOBI    QTUM  XNK

BAY        DTA       HYDRO  NLC2     RFR

BCPT     ENG       IHT         NMR     STORJ

BLOCK  FCT        ION        PRO       STORM

BOXX    FLDC      LBA        PTOY     SWT”

“This change applies only to U.S. customers holding those specific Tokens/Coins.  If you are not a U.S. customer, today’s announcement WILL NOT have any effect on your ability to buy or sell the relevant assets on the Bittrex International platform.

If you are not a U.S. customer, today’s announcement WILL NOT have any effect on your ability to buy or sell the relevant assets on the Bittrex International platform.   “

This year, Bittrex applied to register with the New York Bitlicense to get the rights to operate in the city, but they were rejected as they did not succeed in removing bad actors.

The exchange also stated that US customers that trade in the affected tokens will receive an email that will guide them on how to proceed.

“U.S. Customers will be sent an email communication from Bittrex that provides guidance on what they can and cannot do with their affected Tokens/Coins in connection with this change before an affected market is no longer accessible(…)”

Featured Image: Medium