Crypto Wallet Abra Restricts Services to U.S. Users Due to Regulatory Concerns
Main page News, US, Regulations, Cryptocurrency
Hot topic
26 July
135 135

Popular cryptocurrency wallet Abra has just announced that, as a result of regulatory uncertainty, it will implement several changes that will affect its users residing in the U.S.

According to the announcement, all cryptocurrencies except for bitcoin, ethereum, litecoin and bitcoin cash, will be transferred to a native wallet.

As of next August 29, all users residing in the U.S. will not be able to store QTUM, Bitcoin Gold, EOS, OmiseGO and Status in their wallets.

All users who have any of these assets in their wallets must exchange them for another crypto or sell them. The assets of the users who do not follow these steps will be automatically converted into bitcoin.

According to the company's announcement, New York residents will be affected by some additional changes. They will not be able to use bank Automated Clearing House (ACH), make bank transfers, or use American Express cards for deposits and withdrawals.

In February this year, Ihodl Spain reported that Abra's application would allow to buy shares and ETFs with bitcoin.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close