Poloniex, a United States-based centralized cryptocurrency exchange, has disabled GAS trading for its United States customers starting on May 29th, 2019. Eight other coins will also disabled for its United States-based users. Trading markets for Poloniex users from outside the United States will remain open. Poloniex offers GAS/BTC and GAS/ETH trading pairs.
Regulatory Uncertainty
In its announcement, Poloniex stated that “Today’s action is a result of regulatory uncertainty in the US market.” The exchange added, “Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities.”
Affected Assets
United States users of Poloniex will need to close any open positions of the GAS, Ardor, Bytecoin, GameCredits, Lisk, Nxt, Omni, and Augur cryptocurrencies before May 29th, 2019. Withdrawals will remain open for United States customers for “as long as we [Poloniex] support the asset globally.”
The exchange was outwardly empathetic, stating that “We understand how frustrating this choice is for our customers” and added, “We believe in the power and potential of these assets.”
Poloniex was founded in Delaware, United States in 2014, and was acquired by the United States-based firm Circle Internet Financial Ltd. in early 2018.
The exchange’s full announcement can be viewed at the following link:
https://medium.com/circle-trader/poloniex-to-stop-offering-trading-of-9-assets-to-us-customers-all-assets-remain-available-to-b4c5703c0e9
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
More posts by Colin Closser