Cryptocurrency exchange Bitfinex has admitted that it will block all US customers as regulatory uncertainty bites from November 9.
In its latest blog post Monday, Bitfinex, which already ban US users from becoming verified on its platform, was said that they should remove all hosted tokens now.
“U.S. customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform,” it repeated.
“This restriction will remain and, in addition, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.”
Bitfinex’s full exit from the US market was in the air for some time as patchwork regulation and difficulty securing “compliant banking solutions” began creating some problems. Before its one-size-fits-all approach, the exchange had banned some certain US states as and when necessary to stay within the law, often at short notice.
As part of divesting US holders of RRT equity tokens appeared from a hack in 2016, Bitfinex also added that they would have an opportunity to sell their entire holdings prior to the November 9 deadline. Reaction to the news on social media is that traders appeared surprised at the scope of Bitfinex’s move while blessing the clarity on an issue that has plagued multiple exchanges serving the country currently.