Bitcoin Forum

Poloniex to stop offering trading of 9 assets to US customers; all assets remain available to non-US customers

https://medium.com/circle-trader/poloniex-to-stop-offering-trading-of-9-assets-to-us-customers-all-assets-remain-available-to-b4c5703c0e9

On Wednesday, May 29th, at 16:00 UTC, the markets for ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI, and REP will be disabled for Poloniex customers in the US. All assets remain available for trading to customers outside the US.

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.

US customers holding balances in ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI, and REP on Poloniex must finalize all trades and close any positions in these assets prior to May 29th. Once geofenced, customers will be able to withdraw these assets from their wallet for as long as we support the asset globally. To withdraw your assets, please visit the Balances section of your account.



Why they dont allow Americans to buy Decred anymore?

Circle's CEO is probably the most idiotic moron in all of crypto, we've known this for many years. There's a reason why Circle is an utter failure and now they are bringing their touch of death to a formally beloved exchange, Poloniex.

In all fairness, the damage was already done years ago, when Tristan handed it over for hundreds of millions of dollars (estimated btw).

The east will continue to dominate blockchain and crypto markets, while the American assholes will continue to move forward with a thumb up their ass, terrified to anything without damaging their own skin or impeding on the dominance of banks.


Trillions in USD are being handed out for free to Asia, simply because U.S. regulation bodies are scratching their heads on what to do. The actions they do take, is not in the U.S.'s interest, but by the authorities running the country. IE banking and financial sector.

The more financial industries embrace crypto, the better off we are from the hands of clueless bigbrother and clueless leaders like Jeremy Allaire.

Polo was acquired by circle a fintech company of US and they think these 9 coins could be classified as securities which would have it's own laws about trade and profit as well as taxation. They just want to be safe from any hassle. But these events would surely put US behind on the crypto race.

To debunk the argument of "security tokens",

- NXT is a security token now? Nxt was made before the U.S. even issued their first tax guidelines. It got funded less than 20kUSD, about what 18 investors funding it 33 btc or something? It had a sale before ICOs were even a thing, people were fucking oblivious to what any of this shit meant at the time, it took another 2 years before ICO term even was created. People posted a BTC address in their BTT threads "fund me and get my shitcoin" and that's how the first "ICOs" were conducted.

Fun fact: NXT was the first crypto on Poloniex when it launched.


- Ardor a security? Not really, it's underlining principals are no different than ETHs. I can't even recall if they conducted an ICO, but i know the majority of tokens were swapped from NXT.

- GAS a security? Da fuck? Clearly they have no idea what GAS truly is.



Yes, you're correct "free from hassle," and they won't have any hassle left when all their client base flocks to competing exchanges. To blow all our fucking minds btw, XRP is a security token as much as any ICO. Why wasn't this shit delisted for U.S. customers? Incompetence that's why.

So, there is more than meets the eye here. There are many factors determining delisting for U.S. people, and i'm not convinced in the slightest they were all because they were afraid of regulations.

Securities laws are decades old. I have no ideas really when they made them but they are way way way older then Bitcoin.  NXT was one of first if not the first ICO. Every ICO, so a crowdfunding, should be a security.   My main question was why Decred. There are speculations that because of its governance structure that is not finished yet.   Also why Bytecoin. It is a scam and should be delisted, but how Bytecoin can be a security?

I am just so happy that I am not a US citizen because I can see a lot of rules from the government towards her citizens especially to those that are involved in Crypto,  this is why most of the ICO companies always omit US citizens from investing in their platform to avoid the wrath crimes the American government, I don't know whether they don't have something better doing that looking for those into Crypto, I believe that very soon they will get tired and stop this already.

The official position is to protect Americans from the lack of legal regulation of cryptocurrency.
In fact, I think, in this way the projects themselves are protected from the United States, from their claims and prosecutions (criminal and political).