Crypto News :
Bittrex, a cryptocurrency exchange, has announced that it will shut down its US operations on April 30th due to “regulatory uncertainty” and a lack of support for innovation from US lawmakers.
Bittrex CEO Richie Lai said that the company’s international arm, Bittrex Global, will continue to operate, and customer funds are safe and can be withdrawn until the closing date.
The decision to wind down its US operations comes as regulators in the country have increased their scrutiny of cryptocurrency firms, with several enforcement actions taken in recent months.
Bittrex had previously faced regulatory challenges and agreed to pay $24.3 million in fines for violating US sanctions.
Despite this setback, Lai emphasized that Bittrex Global remains regulated in Bermuda and Liechtenstein, and the company plans to focus on growing that business.