One of the leading Crypto Exchange Bittrex stated that it will block its United States users from trading in 32 cryptocurrencies. The news was shared in a blog post on June 7.
According to the announcement, the latest change will come into effect on June 21. Stating that certain markets will "no longer be accessible to US customers."
Keep in mind that affected coins will still be available on the Bittrex International, for non-US customers. All the coins which are banned are listed on the exchange, out of which some of the most popular coins will be QTUM, ENG, STORJ, MFT, and FCT.
According to Bittrex, US users will receive a mail along with the details about what they can do with these affected coins and tokens on Bittrex. Even though the US users will be able to sell the affected tokens before June 21, they will not be able to do after this date. Apart from this, they can also cancel or replace orders on Bittrex, and move their assets from the Exchange.
As soon as the change comes into effect on June 21, US users will not be able to buy or sell any of select coins, however, all the users will not be able to interact with any of the coins on Bittrex. Several functionalities involving these assets will still be accessible by U.S. traders and the coins will be transitioned to the Bittrex International Platform:
“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 latest change is somewhat questionable. But, Bittrex is trying to overcome any of the rumors which might mean that Bittrex is leaving the US altogether. On its Website, Bittrex stats whether it will leave the US or not:
“Bittrex is proud to be a U.S. Digital Asset Trading Platform. U.S. customers will have access to a more limited number of markets as compared to what Non-U.S. Customers have on the Bittrex International platform. Like other industry participants, we will continue to advocate for laws and regulations that foster innovation.”
Until now, Bittrex hasn't mentioned any particular reason why the firm is going to block these 32 coins. Moreover, the firm is following the same approach as US-based exchange Poloneix, which "geo-fen" 9 assets from American users.
Bittrex International is basically Bittrex's Europe-based affiliate, which lists some of the tokens which are only present in the Bittrex International Platform and not available to the US customers.
In March 2019, the exchange canceled its first Initial Coin Offering, which Bittrex was planning to launch on Bittrex International.