Tanya Abrosimova
Independent Analyst
- The cryptocurrency exchange stops offering nine coins to US traders due to regulatory uncertainty.
- Customers from other regions won't be affected.
Cryptocurrency exchange Poloniex announced that starting from May 29 nine tokens would be made unavailable for the US citizens. Trades from other regions will retain the full access to all assets listed on the exchange.
The limitations apply to the following tokens: Ardor (ARDR), Bytecoin (BCN), Decred (DCR), GameCredits (GAME), Gas (GAS), Lisk (LSK), Nxt (NXT), Omni Layer (OMNI), and Augur (REP)
Regulatory uncertainty on the US cryptocurrency market is the main reason behind the decision, the company explained.
"We are committed to complying with regulatory requirements in every jurisdiction. Today's action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities. We understand how frustrating this choice is for our customers, and for the crypto community more broadly. We believe in the power and potential of these assets, and will continue to focus time and energy on supporting positive policy and regulatory developments for crypto assets in the US and around the world," the exchange wrote in its blog post.
According to the announcement, the US traders should close their open orders in all the above-listed tokens before May 29. However, they will be able to withdraw the funds from their wallets later.
The US authorities cannot decide on the legal status of digital assets. Recently, the SEC's advisor on digital assets Valerie Szczepanik often referred to as "crypto czar" said that platforms that listed IEO (initial exchange offering) tokens for a fee might have been in breach of the Securities Law.
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