Reddit user questions email from HitBTC stating they no longer serve US investors

05 Jun, 2019
by Fifi Arisandi
Reddit user questions email from HitBTC stating they no longer serve US investors

A US-based HitBTC user received an email stating that the exchange no longer provide services to US investors. 

After a series of rumors followed by a long and detailed clarification from the company, an “update” on crypto exchange, HitBTC just emerged.

This time, a US-based user brought the matter on Reddit. “Is HitBTC no longer providing services to US citizens or is this another trick?” user NattyBrah86 entitled his post.

Apparently, he received an email from the exchange, notifying that they no longer serve US-based customers.

In his post, NattyBrah86 also explained that the email came after an unsuccessful effort to withdraw his funds from his originally frozen account due to the pending KYC/AML procedure.

“We regret to inform you that at the present time we do not provide our services to US Citizens and customers whose primary residence is the US. This goes in accordance with the current regulatory framework for digital asset trading in the US. If you are not a US Citizen or resident and believe this to be an error, please click here for our Support Center,” so the email wrote.

NattyBrah86 suspected the move as “new ridiculous excuses to unlawfully withhold our money”, which most of the commenters agree with.

Is HitBTC no longer providing services to US citizens or is this another trick? from r/CryptoCurrency

“I bought from HitBTC over a year ago. Went to withdraw and cannot. Not too worried but definitely BS scam xchange. Stay away. There are plenty of other options out there versus having to use the one,” said user GreenThumbzz.

Another confirmed NattyBrah86’s experience by saying, “Same here so far. Not using it much tho.”

Meanwhile, there’s a user who claimed to have never experienced any difficulties despite his location in the US.

“Very interesting.. I live in the US and have never had an issue with HitBTC. Have made numerous deposits/withdrawals along with trades and never had trouble,” AnKrit11 wrote, followed by “I deposited 2 BTC 3/4 months ago and bought 100k SWM. Withdrew the SWM with no hiccup. Maybe they just want to hoard BTC?”

As of writing time, the most recent update on HitBTC’s official Twitter account is the notification about a scheduled maintenance, which disallows transfers and withdrawals from the platform temporarily.

“Your funds are safe and thank you for understanding!” the team wrote.

Stick with Chepicap for further development on the matter.

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Read more about: HitBTC United States


To US-based HitBTC users, did you receive the same email?

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