Consensus 2023 Logo Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Secure Your Seat Cryptocurrency exchange Bittrex will shut down its U.S. platform on April 30 after nine years of operation, the company announced on Friday. “It’s just not economically viable for us to continue to operate in the current U.S. regulatory and economic environment,” said Bittrex co-founder and CEO Ritchie Lai in the statement. “Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” he continued. “Operating in the U.S. is no longer feasible.” All customer funds are safe, said Lai, and are available to withdraw. A D V E R T I S E M E N T A D V E R T I S E M E N T The closure does not affect Bittrex Global, which operates in Europe, Canada and South America, among other locales, and will remain open for trading. U.S. regulators in recent weeks and months have upped their oversight of crypto-related companies, and crypto exchanges haven’t been spared. Coinbase recently disclosed receipt of a Wells Notice from the U.S. Securities and Exchange Commission (SEC), and Kraken shuttered its crypto staking service and paid a $30 million fine in a settlement with that agency. Recommended for you: Chainlink Unveils Crypto ‘Keepers’ and Anti-Fraud Blockchain Bridges Bitcoin Miner Marathon Digital's CFO to Retire After One Year The Game Is On: The Hunt for Web 3 Gaming Models Join the Most Important Conversation in Crypto and Web3 in Austin, Texas April 26-28 Most recently, Binance and its CEO and founder Changpeng Zhao U.S. Commodity Futures Trading Commission the U.S. Commodity Futures Trading Commission (CFTC) this week, with the complaint alleging the offering of unregistered crypto derivatives products in the U.S. Edited by Stephen Alpher. DISCLOSURE Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. CoinDesk - Unknown Helene Braun Helene is a U.S. markets reporter at CoinDesk, covering the US economy, the Fed, and bitcoin. She is a recent graduate of New York University's business and economic reporting program. Follow @HeleneBraunn on Twitter

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