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Bittrex Exchange blocks 32 cryptocurrencies’ trading for U.S. users

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Bittrex Exchange blocks 32 cryptocurrencies' trading for U.S. users
Source: Pixabay

There had been a significant rise in the crypto regulations across the globe in order to curb down the unethical activities and to safeguard the users’ interests. Taking a step in this direction, crypto coin trading exchange Bittrex officially declared that it will obstruct its United States-based clients from exchanging 32 digital currencies.

This step had surprised the U.S. crypto fans as the U.S. was the major market for the crypto ecosystem in terms of traffic generation over the crypto exchanges. The exchanging trade also notified that U.S. clients will get an official email with clarifications concerning what they are and are not permitted to do with the banned crypto coins.

With the major step taken by the exchange baffled the U.S. users, the exchange announced that the users will get limited access to the functionality as the buying and selling of the digital coins had been banned. 

The official statement said,

“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 exchange offered the users to exchange the coins for the assets that will be available to them in addition to cancelling of the orders. The coins will be moved onto the Bittrex International exchange platform. 

According to the sources, with the Bitcoin [BTC] on a bull run, the exchange’s decision to block the U.S. users had generated a wave of concern among the users. Bittrex International will be operating the tokens that were not available for the U.S. users. 

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.