Wallets and Exchanges

US Customers Barred From Bitfinex, the Bitcoin Exchange

All US customers will be blocked from November 9 as regulatory bites, Digital Currency exchange Bitfinex affirmed.

In its most recent blog entry Monday, Bitfinex, which as of now disallows US Clients from getting verified on their platform, said they should now remove all facilitated tokens.

“U.S. customers are as of now barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform,” it reiterated.

“This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.”

Bitfinex’s full exit from the US market has been on the cards for quite a while as patchwork regulation and difficulty securing “compliant banking solutions” began causing increasing headaches.

Prior to its one-size-fits-all approach, the exchange had banished certain US states as and when necessary to stay within the law, often at short notice.

As part of divesting US holders of its RRT equity tokens formed from a hack in 2016, Bitfinex added they would be able to sell their entire holdings prior to the November 9 deadline, as well as afterwards by “special arrangement.”

Reacting to the news on social media, traders appeared surprised at the scope of Bitfinex’s move while welcoming clarity on an issue that has plagued multiple exchanges serving the country in recent years.

About author

Adrian is a cryptocurrency trader and writer since 2014. He follows closely coins such as Bitcoin, Ethereum and NEO to little known ICOs, constantly analyzing crypto markets in order to stay informed. Email Adrian directly at adrian@ethereumworldnews.com
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