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Bitstamp bitcoin exchange to cease services in Washington State
Bitstamp, a Luxembourg-based bitcoin exchange, has announced that it will discontinue its services in State of Washington, following the imposition of recent regulatory constraints.
The company made the announcement via a letter to its customers. One Reddit user posted the letter, which stated:
“After long and careful deliberation, we are sorry to inform you that due to recent regulatory constraints imposed by the State of Washington, Bitstamp will cease to serve customers from The Evergreen State, effective 20th December 2016.
We kindly ask you to withdraw your funds by 20th December 2016 by means of Bitcoin or international wire. Your account will be closed after the deadline has expired.
We sincerely apologize for the inconvenience. We are actively working to restart our services within the State of Washington and we will inform you as soon as the situation is resolved.”
Bitstamp celebrated its fifth anniversary this August and is the first and only bitcoin exchange to be fully licensed in all 28 EU member states. It received its first major investment two years ago to the tune of USD 10 million in seed funding from venture capitalist Pantera Capital. Moreover, it recently launched its global online investment campaign on BnkToTheFuture.com.