- 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.
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