Hong Kong-based bitcoin exchange Bitfinex has stopped serving its customers residing in the state of Washington, CryptoCoinsNews reported.
A Reddit user posted a message received on BFX account that said that the exchange will no longer offer services to users based in Washington.
The message reads:
“Washington State Restrictions
Over the past several months, we have been in discussions with representatives of the Washington State Department of Financial Institutions (DFI) about Bitfinex’s business and, specifically, services provided to Washington customers. DFI representatives take the view that we may not offer our platform services to Washington state residents without obtaining a state money transmitter license in their state.
At this time, we are not obtaining a money transmitter license in Washington and, accordingly, we will no longer doing business with verified Washington customers, effective immediately.”
The message further states that Washington state residents are not permitted to do business on Bitfinex and that the company has updated its site’s terms of service to this effect. Bitfinex did not make any announcement on its website on this matter.
The latest move from Bitfinex follows a similar decision by Bitstamp in December 2016. The Luxembourg-based bitcoin exchange discontinued its services in the State of Washington, following the imposition of regulatory constraints.
