Cryptocurrency Market Update: Bittrex Joins Binance to Restrict Altcoin Trading For Customers in the US

Recently, a limitation was placed on digital asset investors in the United States. This was seen as pretty bullish news, but the digital currency seems to not be affected by it. The prices of digital currencies in the market are soaring higher, with Bitcoin (BTC) drawing close to the $9k level. Recently, Binance – the largest digital currency trading platform in the world by trading volume – sent shockwaves across the entire market. The trading platform announced that it would stop traders in the US from trading certain altcoin cryptos. While the sentiments of this announcement have not died off, Bittrex just added to it.

Cryptocurrency News Today: Bittrex Axes Altcoin Trading For Digital Asset Investors in the US

According to a recent crypto news Bloomberg, Bittrex just made the same decision Binance made a few days ago. According to the announcement, certain markets will no longer be available to digital asset investors in the United States. The Seattle Washington-based trading platform disclosed this information to its users via an email as well as its official website. The firm announced that it would be making major market availability changes for customers in the US on June 28. The firm also released a list of altcoins that they will move to the international platform of the firm.

According to the announcement, the exchange will send another email to customers, telling them what they can do and what they cannot do with their affected tokens. From June 28, customers in the US will no longer be able to sell and buy the blacklisted altcoins. If there is an open order when the stop date comes, the orders will be canceled. However, users will be able to withdraw and hold their altcoins in their Bittrex wallets provided Bittrex International support them.

The affected digital currencies will remain open to customers outside the US. This means non-US customers can still access and trade the affected digital currencies. A snippet of the notice stated:

“Like other industry participants, we will continue to advocate for regulations and laws that foster innovation.”

Crypto News Update: US Customers Will Still Have Access to Custody and Wallet

The announcement further highlighted that customers in the US will still access Bittrex wallets and custody for a reasonable time after the market is removed to customers in the US. This means that the firm is gradually moving its basic operations to its international platform.

The Effect of this Move on the Crypto Market – Cryptocurrency News Today

The digital currency market is currently surging higher and testing new highs. However, many digital currencies on the blacklist of Bittrex are not experiencing major gains. However, other digital currencies are not affected, as the world’s largest digital currency by market cap – Bitcoin (BTC) – is now trading close to the $9k level. The price of Litecoin (LTC) is also on the rise, with an increase of more than 5 percent over the past day, bringing LTC USD price toward the $140 mark.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$8,478.58
-1.64%

At the press time, BTC USD live price is $8,730 after an increase of about five percent over the past twenty-four hours. The trading volume of the digital currency over the past twenty-four hours is $19.93 billion, with a market cap of $154.07 billion.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.