Bitcoin Exchange Poloniex Excludes US Customers for Certain Cryptocurrencies | BTC-ECHO
Users of the Bitcoin Exchange Poloniex will be restricted in their future trading of cryptocurrencies, at least if they come from the United States. So announced Poloniex in a media post that they will close the markets for the following cryptocurrencies for US users:
- Ardor (ARDR)
- Bytecoin (BCN)
- Decred (DCR)
- GameCredits (GAME)
- Gas (GAS)
- Lisk (LSK)
- Next (NXT)
- Omni (OMNI)
- Augur (REP)
Your decision justifies the decision as follows:
We commit ourselves to comply with the legal requirements in all countries. Today's action is a consequence of regulatory uncertainty in the US market. In particular, it is not possible to be sure that US regulators will consider these assets as securities.
Exclusion of cryptocurrencies in response to SEC framework
Ultimately, the Bitcoin Exchange is referring to a recent decision by the US Securities and Exchange Commission (SEC) in which it presented a framework for assessing cryptocurrencies. Among other things, it dealt with the question of whether tokens are regarded as securities.
In terms of a possible reaction from the crypto community, she adds:
We understand how frustrating this decision is for our customers and for the crypto community in general. We believe in the strength and potential of these assets and will continue to invest time and energy in supporting positive political and regulatory developments for crypto facilities in the US and around the world.
Jeremy Allaire, CEO of Circle, the parent company of Poloniex, subsequently regrets the increasing regulation by the SEC in the United States in a tweet:
1/ @Poloniex announced today that we are geofencing some assets in the United States. We are deeply frustrated that we need to take these steps, which are the results of an extended limited environment in the US for crypto assets. (See Below)
– Jeremy Allaire (@jerallaire) May 16, 2019
(…) We are deeply frustrated that we need to take these steps as a result of the increasingly limited US environment for crypto assets.
Most of the other cryptocurrencies of the Bitcoin exchange remain unaffected by the current restrictions. As usual, US citizens can trade Bitcoin, Ripple, Litecoin & Co. as usual.
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