Announced recently, the Bittrex crypto exchange decided to terminate its trading service in 31 countries. Traders and users in these countries can have access to their accounts until October 29, 2019.
The exchange in its announcement explained that traders based out in 31 countries will not be able to access Bittrex’s crypto trading platform. Moreover, the same was also sent via email to their respective clients. Following are the countries where Bittrex will soon stop offering its crypto trading services;
Afghanistan, Egypt, Bosnia-Herzegowina, Botswana, Cambodia, Central African Republic, Democratic Republic of Congo, Côte d’Ivoire, Ethiopia, Eritrea, Ghana, Guinea, Guinea-Bissau, Guyana, Iraq, Laos, Lebanon, Libya, Maldives, Pakistan, Sri Lanka, Somalia, Sudan, South Sudan, Trinidad and Tobago, Tunisia, Uganda, Vanuatu, Venezuela, Yemen, and Zimbabwe.
However, the reason behind this action hasn’t specifically clarified but the platform tried to justify citing the regulatory uncertainty in these jurisdictions. In addition, it strictly warned users to withdraw their funds before October 29.
“All trading and account access for these impacted customers will be halted on Tuesday, October 29 date at 19:00 UTC/21:00 CEST,” Bittrex mentioned in its announcement published on its website this Friday.
Without giving an additional window, traders in affected countries can only withdraw their balances until certain thresholds. Besides, it also stated that “minimum withdrawals for all coins must be greater than 3 times the fee”. Notably, the exchange’s decision of banning its services mostly concerns crypto enthusiasts in countries where economic-crises are on hype such as Venezuela.
“Please note if your balance is below the minimum withdrawal amount for the wallet, you will not be able to withdraw it, Bittrex explained. For example, your balance in BTC must be .00150001 or greater as the fee is .0005,”.
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