Bittrex Global announces shutdown amid regulatory challenges By Investing.com
[ad_1]
© Shutterstock
The cryptocurrency exchange Bittrex Global, known for serving an international customer base, has announced it will cease all trading activities by December 4. This decision comes on the heels of the bankruptcy of its US counterpart following a fine from the Securities and Exchange Commission (SEC) for violations of securities laws.
Customers have been advised to refrain from making further deposits as there is a risk of permanent loss. The exchange has specified that funds can only be withdrawn in euros or other cryptocurrencies, excluding USD withdrawals. Once a significant player in the crypto market with a 23% share in 2018, Bittrex Global’s decline has been attributed to the prolonged bear market in cryptocurrencies and increased regulatory pressure on companies facing legal actions within the industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
[ad_2]
Source link
© Shutterstock
The cryptocurrency exchange Bittrex Global, known for serving an international customer base, has announced it will cease all trading activities by December 4. This decision comes on the heels of the bankruptcy of its US counterpart following a fine from the Securities and Exchange Commission (SEC) for violations of securities laws.
Customers have been advised to refrain from making further deposits as there is a risk of permanent loss. The exchange has specified that funds can only be withdrawn in euros or other cryptocurrencies, excluding USD withdrawals. Once a significant player in the crypto market with a 23% share in 2018, Bittrex Global’s decline has been attributed to the prolonged bear market in cryptocurrencies and increased regulatory pressure on companies facing legal actions within the industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
About The Author
