• The termination will be enforced from 29th May.
  • Szczepanik along with Bill Hinman published a new framework.

Poloniex, a leading cryptocurrency exchange, will discontinue the distribution of nine coins in the US due to uncertain regulations. It was confirmed in a blog post published on May 16. The firm will stop trading in Ardor (ARDR), Bytecoin (BCN), Decred (DCR), GameCredits (GAME), Gas (GAS), Lisk (LSK), Nxt (NXT), Omni Layer (OMNI), and Augur (REP) for its customers in the U.S from May 29. 

The uncertain regulatory environment in the nation led the firm to take the step. The exchange said: 

“Specifically, it is not possible to be certain whether U.S. regulators will consider these assets to be securities.”

The U.S. Securities and Exchange Commission’s (SEC) “crypto czar” Valerie Szczepanik said that platforms seeking to list initial exchange offering (IEO) tokens for a fee could find themselves in regulatory trouble.  

“If they are not registered they will find themselves in trouble in the U.S. if they have a U.S. issuer or U.S. buyers if they are operating on the U.S. market.” 

Szczepanik along with another commissioner Bill Hinman published a framework in early April to help market participants determine whether or not a digital asset is deemed to be an investment contract, and therefore a security.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD daily confluence detector shows healthy support level at $10,075

Bitcoin has had an overwhelmingly bearish day wherein its price dropped from $10,771 to $10,135, reaching a low of $9,856. Over the last 2 days, Bitcoin has canceled out the gains made by the bulls in the 5 days before that.

More Bitcoin News

Ripple market overview: XRP/USD keeps sinking as bears retain control

XRP/USD has fallen from $0.266 to $0.265 in the early hours of Thursday. Over the last four days, the price of Ripple has fallen from $0.284 to $0.265. The hourly breakdown for Wednesday shows ...

More Ripple News

Israel Bitcoin Association appeals to make crypto policy public

Several Bitcoin traders in Israel have already filed cases against the banks of the country. On Monday, the traders lodged a formal petition demanding that the financial industry defines its crypto-asset policy. The crypto investors have been ruled out from depositing the returns on ...

More Cryptocurrencies News

Ethereum: Bulls try to end on a high following another overwhelmingly bearish day

Ethereum has ended up with a second bearish day in a row, wherein it fell from  $196.60 to $187. The hourly breakdown of the price shows that the price plummeted from $196.60 to $180 within 12 hours.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP