Bittrex delists 40 more cryptocurrencies amid regulatory pressure

15 Jun, 2019
by Richard Allen
Bittrex delists 40 more cryptocurrencies amid regulatory pressure

Bittrex, a cryptocurrency exchange with a focus on altcoins, announced last week that it would be delisting 32 cryptocurrencies for their US-based customers. Now, the exchange has announced another batch, this time 42 altcoins are being delisted.

Last week, the exchange confirmed 32 cryptocurrencies would be removed from the exchange. Many were small-cap coins like STORM, GO and ENG, born during the ICO mania of 2017 and 2018. Those coins will be unavailable on Bittrex from June 21, but can still be bought and sold through Bittrex International.

Now, the exchange has published a new blog post which states 42 cryptocurrencies will be delisted. While many are small-cap altcoins, the list includes projects like Civic (CV), OmiseGO (OMG), and Sirin Labs’ native token (SRN). These will no longer be available for US customers from June 28.

According to EthereumWorldNews, Poloniex made a similar announcement recently stating coins like Ardor (ARDR), Bytecoin (BCN), Decred (DCR), Lisk (LSK), OMNI, Augur (REP) and others would no longer be available to traders in the US.

The Securities and Exchange Commission (SEC) hasn’t yet provided much legal clarity on the state of cryptocurrencies, which is directly responsible for Poloniex’s decision. The Goldman Sachs-backed firm stated the reason for their delisting as:

“Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities.”

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