Bittrex Exchange In The US Was Shut Down After Trading Activity Dropped Below 1

Bittrex has announced its intention to quit the United States, blaming regulation ambiguity. Due to the difficult legal and economic climate, cryptocurrency exchange Bittrex will shut its US platform on April 30 after 9 years of operation, according to information released on the company’s official website. Wake up in this room. Regulatory requirements are frequently ambiguous and enforced without adequate discussion. In recent months, multiple US authorities have scrutinized platforms such as Coinbase, Kraken, and Binance. On Thursday, Galaxy Digital CEO Michael Novogratz stated that the crypto business is “under attack” from US authorities. According to The Block’s head of research, Steven Zheng, while recent legislative problems may have influenced the exchange’s choice to exit the nation, they are likely not the only cause. .”Their volume in the US is so low that it’s not worth the effort to stay afloat,” he said, citing Bittrex’s 24-hour bitcoin traffic of $4.5 million. However, this poses serious concerns about the suitability and feasibility of the US legal structure for the crypto sector.