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Digital Currency Revolution Series: Poloniex Restrains US Clients From Certain Crypto-Trading
The renowned US crypto-exchange, ‘Poloniex’ is all set to face address markets in a unique way as it intends to delist 9 cryptocurrencies for the US-based clients following guidance by the US Securities and Exchange Commission (SEC). The exchange has reportedly mentioned it will continue to pursue favorable regulatory outlook on assets that are now likely to be deemed as securities.
Hence, the US crypto-exchange is most likely to restrict trading activities of 9 cryptocurrencies, namely, Ardor (ARDR), Bytecoin (BCN), Decred (DCR), GameCredits (GAME), Gas (GAS), Lisk (LSK), Nxt (NXT), Omni Layer (OMNI), and Augur (REP) for US-based customers.
Remarkably, Augur's REP token is also to be delisted but continues to have existed on other US-based exchanges like Kraken and Coinbase.
As per the official announcement: “We are committed to complying with regulatory requirements in every jurisdiction. Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities. We understand how frustrating this choice is for our customers, and for the crypto community more broadly. We believe in the power and potential of these assets, and will continue to focus time and energy on supporting positive policy and regulatory developments for crypto assets in the US and around the world.”
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing 109 (which is bullish), while hourly USD spot index was at 110 (bullish) while articulating (at 06:38 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex