The business will not be allowed to accept new customers, and all trading pairs in US dollars will be closed at 11:59 PM ET Tuesday.

The announcement comes amid regulatory debates in the United States and tension between the exchange and federal agencies.

“We have worked diligently to address the questions and concerns expressed by the U.S. regulators and worked with multiple outside legal and regulatory advisors,” the exchange said in a statement.

“Despite our best efforts, we do not have clarity on the range of agencies that claim jurisdiction, and the timing and scope of the regulations and by a continued approach of collaboration with regulators, customers, and industry participants—including those who may not agree with our view—we neither can nor will risk being the centerpiece of a highly public dispute between international regulators or agencies.”

Founded in 2013 by CEO Bill Shihara, Bittrex is a major global cryptocurrency exchange serving users in more than 190 countries. The platform, which houses more than 350 active markets and 150,000 customers, is a go-to exchange for customers looking to trade over 250 digital assets.

Due to increasing tensions between the U.S. Securities and Exchange Commission and the exchange, Bittrex has announced it will shut down its U.S. operations on April 30. The company has cited the lack of clarity on the jurisdictional scope of the regulators, and the timing and scope of the regulations as the primary motivations for this decision.

The move could be a major blow to the ever-growing cryptocurrency industry within the United States, and could lead to greater volatility in the markets given non-U.S.-based traders now have access to assets previously only tradable on Bittrex.

The cryptocurrency exchange has also sent out a notification to its U.S. customers, informing them of changes to be enacted and outlining a timeline for the gradual halting of user accounts. The closure of the platform to U.S. customers is set to begin on April 30 and is expected to be complete by June 29.

Customers will be required to withdraw funds from their accounts by June 29, after which the platform will be shut down and all digital assets will be converted to fiat currency and withdrawn from the exchange.

In a statement, the exchange stated that it is working diligently to address regulatory questions and provide clarity to customers, but continued uncertainty has made it difficult to continue operations. The statement also mentioned that while they do not agree with the views of the regulators, they do not wish to be involved in any major disputes.

Bittrex Inc. has announced that its US operations will cease at the end of April. The Seattle-based cryptocurrency exchange noted that the move to close US operations is a result of regulatory uncertainty within the US market. Bittrex Inc. had been diligent in its attempt to address questions and concerns of US regulators, but with no clear scope or timeline, the company decided to focus its operations on areas of less regulatory risk.

The move to halt US operations could be a significant hit to the growing cryptocurrency industry within USA. Non-US customers now have access to markets previously available only on Bittrex, creating potential opportunities and increased trading volume. In addition, increased volatility could take place due to the sudden restriction on US customers.

As a result of the upcoming shutdown, the cryptocurrency exchange has notified its US customers of changes to be applied and an outlined timeline. The closure of the platform to US customers will begin on April 30th, with a subsequent run-off period for all customer accounts until June 29th. During this period, all customers must withdraw funds from their accounts, upon which point all digital assets will be converted to fiat currency and taken off the exchange.

In a statement to the public, Bittrex Inc. promised to continue working with regulators, customers and the industry, despite the potential disagreements they may face. The statement also noted that they wish to avoid becoming the “centerpiece of a highly public dispute between international regulators or agencies.”



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