American cryptocurrency exchange Bittrex is leaving the US market, citing "continued regulatory uncertainty." In a blog post, the Seattle-headquartered crypto exchange said customers in the US should withdraw their funds by April 30, 2023.
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Bittrex also claims it's "not economically viable" for the platform to continue to operate in the country given the regulatory and economic environment.
Bittrex Co-Founder, Richie Lai, noted the company will now will focus on helping Bittrex Global "succeed outside the US." The exchange will permit trading until April 14, 2023.
Bittrex becomes the latest American cryptocurrency exchange to re-focus its business strategy toward operations outside the US. As iHodl earlier reported, Coinbase is also in talks with its institutional clients about setting up an overseas venture. Moreover, Gemini is also seeking options to open a new crypto derivatives exchange overseas.
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