Bittrex US Shuts Down Due to Regulatory Woes
Bittrex US CEO, Richie Lai, announced the closure of their US operations effective April 30, 2023, citing “regulatory uncertainty” and lack of interest from US regulators in fostering innovation and enhancing the American economy.
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Lai stated that while global policymakers and regulators work with digital asset exchanges to shape the future economy, their US counterparts appear committed to stifling the industry and driving it overseas.
Bittrex Global, however, remains unaffected and will continue serving customers outside the US, providing a safe, secure, and compliant trading environment. The company is grateful for the support from its US customers and team throughout the past nine years.
As Bittrex US says its bittersweet farewell, the co-founders remain committed to growing Bittrex Global, which is regulated in Bermuda and Liechtenstein—two jurisdictions known for innovative and market-leading regulation of digital assets. Bittrex Global will continue to bear the title of the world's most secure regulated crypto exchange, focusing on its foundational goal of maturing the crypto space on a global scale.
The closure of Bittrex US serves as a reminder that it's time for US regulators to embrace innovation and create sensible policies before it's too late and the crypto industry moves entirely offshore.
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