Poloniex closes his doors for US citizens

[Tipstar]

Poloniex closes his doors for US citizens:

Beginning today, US persons will no longer be able to create new accounts on Poloniex. Starting on November 1, 2019, US customers will no longer be able to execute trades on the exchange. When trading ends, US customers will still be able to withdraw their assets through Circle until at least December 15, 2019.

https://medium.com/circle-trader/poloniex-spins-out-from-circle-with-new-backing-global-focus-5a19357bdaee
What do you think about it and future of Poloniex?
Also they made 0% fee for all spot trading to the end of year.  
It seems that their business is not going very well in last days.

It's more like Poloneix is too forced to restrict US citizens. No exchange would want their traffic and volume to decrease. It's the rules and regulations of the US government that are making exchanges and ICOs to shut away US citizens. Though there are some ways to still trade in US with limited options for exchange. And P2P would always be a solution.

[shaheer001]

I am also very angry about this type of action taken by some exchanges like today I have received email from Bittrex international that your country is excluded from Bittrex internation trading platform with the following text:
"You must withdraw your coins/tokens by no later than Tuesday, October 29 by 19:00 UTC/21:00 CEST"

[CryptoBry]

Poloniex closes his doors for US citizens. What do you think about it and future of Poloniex? Also they made 0% fee for all spot trading to the end of year.  It seems that their business is not going very well in last days.

The future is bleak for Poloniex. Not only this exchange has fallen off the radar for the past many months and now this another blow that it is officially leaving the huge USA market for good. Where its eyes will be focusing from now on is something we will watch. I am sure that this decision comes with a heavy heart but people observant of the things happening in the crypto space of the USA know that this is forthcoming. The USA market is now under the control of regulators and the burdensome regulations are placing strong pressure to existing exchanges to comply or start packing up. Poloniex chose the easier way but can lead to its eventual oblivion.

I hope they can choose the path taken by Binance and overhaul their marketing department aside from introducing many innovative features to attract more traders to its side. I am now wondering: Can this be the end of Poloniex or will there be a Phoenix which this exchange is hiding on its sleeves?

[Bitfling]

Poloniex closes his doors for US citizens:

Beginning today, US persons will no longer be able to create new accounts on Poloniex. Starting on November 1, 2019, US customers will no longer be able to execute trades on the exchange. When trading ends, US customers will still be able to withdraw their assets through Circle until at least December 15, 2019.

https://medium.com/circle-trader/poloniex-spins-out-from-circle-with-new-backing-global-focus-5a19357bdaee
What do you think about it and future of Poloniex?
Also they made 0% fee for all spot trading to the end of year.  
It seems that their business is not going very well in last days.

Maybe by closing the door for US Customers, Poloniex can be more flexible in listing coins or tokens. The American government is very strict in terms of trading coins or tokens because it involves securities while many coins or tokens that have large transactions cannot be traded by Poloniex. Hopefully this step will provide flexibility for Poloniex in developing its business

[ivan1975]

Now it became known who is behind the purchase of the Poloniex.
It's Justin Sun - founder of TRON.
https://www.theblockcrypto.com/daily/43811/circle-insiders-say-justin-sun-is-leading-the-investment-consortium-taking-over-poloniex

[dataispower]

Back 2015, this was one of the best exchange. Tristan should be moving to a crypto friendly country and do something to save the exchange apart from closing it to US citizen. US regulation is just going to kill them if they continue allowing US citizen there. He could bring the life of it. I'm not sure if they are collecting KYC yet but its best to start doing it.

Obviously they are just doing everything possible to elope US regulations, which is not entirely bad. The team behind Poloniex should just adopt new strategies, which I see they are doing currently and then build more trust in traders. Poloniex was also one of my best exchange some time ago, but not presently.

[bitgolden]

I think that generally, the United states is really giving some of these exchanges a hard time as regards their exchanges, and I think Polenix would rather reject their citizens than to dance to their tune, because dancing to the tune of United States will typically defeat the objective of cryptocurrency as they will turn it to a full centralized system of government that we have been running far away from.

Polenix is another big exchange, and before they could even make this decision, I am sure that they must have checked and see that the number of US users in their exchange is really not very much significant. Rejecting US users should not even be a problem, people will just migrate to binance platform that has been created for United state citizens totally.