Crypto exchange Bittrex shuts down operations in the US

Tired of theregulatory uncertainty regulatory uncertainty in the United States, Bittrex announces leaving the country of Uncle Sam. The crypto exchange from Seattle was sanctioned by FinCEN last year.

Bittrex, a Seattle-based cryptocurrency exchange platform that has been in operation since 2014, stated. Friday to end its activities in the United States starting next month.

As a direct result of continued regulatory uncertainty and the lack of interest from U.S. regulators regarding sensible policies that will foster innovation and improve the U.S. economy, Bittrex U.S. has made the difficult decision to withdraw and will close its U.S. operations, effective April 30, 2023″, the company wrote.

Following FTX’s surprise bankruptcy, US regulators have upped their game and sued several crypto giants, including Binance and Kraken.

From a release, Bittrex Global is now regulated in Bermuda and Liechtenstein. The firm will normally continue to operate outside the United States.

A mid-sized crypto exchange created by former Amazon engineers, Bittrex was fined in the US in the fall of 2022 for letting users from sanctioned countries trade tokens on its platform. More recently, it cut its workforce to cope with market conditions.

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