Regulatory uncertainty forced Bittrex to leave 31 countries

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  • Bittrex stops servicing customers from 31 country including Venezuela due to regulatory issues.
  • The company obtains a money transfer operator license in North Carolina. 

The cryptocurrency exchange Bittrex has announced the decision to stop servicing customers in 31 countries, including Venezuela, Bosnia and Herzegovina, Egypt and Iraq, as well as a number of other Asian and African countries.

According to the official statement published on the Bittrex International website, the company is leaving due to regulatory uncertainty in these jurisdictions.

The trading and transaction processing in these countries will stop at 19:00 UTC on October 29. Customers are advised to withdraw their money here that above-said deadline. To do so, they should have an amount of at least three times bigger than the minimum transaction fee.

Notably, earlier this week, the US-focused Bittrex platform obtained a money transfer operator license in North Carolina. This license will allow the residents and the companies of the state to deposit and withdraw money in the USD.

“Bittrex has been approved as a Money Transmitter in the state of North Carolina! NMLS ID 1544336. We’re excited to welcome North Carolina customers to join our USD Markets,” the company wrote in its Twitter account

The option is now available in 43 states. Residents of several states, including New York, New Jersey and Nevada, are still unable to do so.

“If you are living inside the United States in a state not listed (e.g. Nevada), you can still participate in our USDT (Tether), BTC, and ETH markets. We will be adding more states eligible for USD soon,” the company said.

Earlier in October, it was reported that Bittrex would launch a new Bittrex Global platform with headquarters in Liechtenstein before the end of the month.

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