Bittrex International shutting down services from 31 countries.

[The Cryptovator]

Noticed now Bittrex going shutting down their services from 31 countries. According to Bittrex they attempt shut down their service from certain countries due to regulatory uncertainty. Here is the official announcemen., read it for more details. If you are resident of below country then you have to Tuesday, October 29 by 19:00 UTC after you will not able to withdraw your fund.

List of Countries that will be ban to use Bittrex,

Afghanistan
Egypt
Bosnia-Herzegowina
Botswana
Cambodia
Central African Republic
Democratic Republic of the Congo
Côte d'Ivoire
Ethiopia
Eritrea
Ghana
Guinea
Guinea-Bissau
Guyana
Iraq
Laos
Lebanon
Libya
Maldives
Pakistan
Sri Lanka
Somalia
Sudan
South Sudan
Trinidad and Tobago (
Tunisia
Uganda
Vanuatu
Venezuela
Yemen
Zimbabwe

Guys share it with your friends and family so they would withdrawal their fund if they are reside on above country. They will no longer to use Bittrex from Tuesday, October 29 by 19:00 UTC

[ecnalubma]

Noted this, even it is due to regulatory uncertainty they may have also low trading volume in that particular areas of the world. Regulatory issues is very common specially that of lack understanding about the nature of cryptocurrency and perceive as a threat to their monetary system.

[Sadlife]

Guys share it with your friends and family so they would withdrawal their fund if they are reside on above country. They will no longer to use Bittrex from Tuesday, October 29 by 19:00 UTC

have already shared to my social media account ,also shared in some of my groups so people around the globe may learn about what Bittrex decide to do ,its a sudden but nothing we can do.lucky that my country is not included to those 31 countries because i may have no choice but to withdraw and transfer to other exchange

thanks for the heads Up OP, this is a great share !!!

[SaShiRaJaVu]

Noticed now Bittrex going shutting down their services from 31 countries. According to Bittrex they attempt shut down their service from certain countries due to regulatory uncertainty.

That is not a satisfactory answer to shut down the service due to regulatory uncertainty and if that is the real case then they should shut down their service in more countries than the said 31 countries. Since it is a private company they can take decision like that and thank you for informing the community about shutting their service to the said countries. They should have given more time for the users to withdraw their money than giving around ten days as majority might not hear about their decision if they are on a vacation.

[Wexnident]

Sad to see this. Having to shutdown due to uncertainty must be quite unacceptable to most people or even to the company themselves but I guess they have their reasons. I've spread it to my social media accounts and hopefully, other users are able to see the announcement before the shutdown happens. I just hope majority are able to withdraw their funds and hope that Bittrex is able to comeback after sorting their problems out.

[Herbert2020]

i wonder how many users they are going to scam this time and how much money they are going to earn this round. last time they dropped services for some countries they ended up first limiting the withdrawal for these users then completely banned their accounts and blocked their money practically robbing them overnight.
at least this time it seems like there is a small window for them to withdraw (that is if they aren't already limited!).

[adroitful_one]

Sad to see this. Having to shutdown due to uncertainty must be quite unacceptable to most people or even to the company themselves but I guess they have their reasons. I've spread it to my social media accounts and hopefully, other users are able to see the announcement before the shutdown happens. I just hope majority are able to withdraw their funds and hope that Bittrex is able to comeback after sorting their problems out.

Unfortunately, there is just more and more of this happening here lately. I'm really not sure why the whole world has become so anti-crypto lately. I guess since they can't regulate the coins themselves, they're going after all of the services that people use to acquire the coins. Making them pay an outrageous fee to get licensed in each individual country the reside in or shut down trading there. It's really sad to see.

[elda34b]

Regulatory uncertainty doesn't mean they're anti-crypto per se. Bittrex is trying to save their ass because it's possible that those countries start killing them when they finished the regulation. However, another case is also possible since the current state is unknown (even though most people tend to believe crypto won't get accepted over there).

No need to speculate further, you can still use other exchange and let Bittrex survive with whatever they have right now.

[CryptopreneurBrainboss]

It saddens me to see many African countries on the list. The thought of how many poor souls will get scammed due to this action is just worrisome. Many might not get this info about this decision on time and it would cost them since many Africans still rely in this exchanges for safety especially those in the struggling countries. Most government aren't crypto friendly so some enthusiast stay under the radar my relying on reputed exchanges for safety (although it shouldn't be the best decisions).

Bittrex too will be losing many customers by this action, don't think it's a right decision especially as the affect countries are those we might consider to need their service the more considering local exchanges aren't conducive for patronize.

[o_e_l_e_o]

That is not a satisfactory answer to shut down the service due to regulatory uncertainty

At the end of the day, Bittrex (and any other centralized exchange for that matter) is a private company, and they can do what they like. Sure, it sucks for users in these countries who use Bittrex, but if Bittrex don't know if they are going to be able to legally continue to operate in these countries, then of course they are going to shut down rather than face fines or criminal charges. Don't be fooled in to thinking any of these centralized entities give two hoots about their users. They only care about saving their own asses, and if some users get ripped off or scammed along the way, then it's not a problem for them.
 

last time they dropped services for some countries they ended up first limiting the withdrawal for these users then completely banned their accounts and blocked their money practically robbing them overnight.

Iran, Russia and Egypt, if I remember correctly. Did anything ever come of that? Or did it all just blow over as it usually does when some huge exchange does something massively shady/unethical/scammy? Honestly, why do people continue to trust these exchanges with their coins? Hopefully they won't pull this scam again and people will be able to withdrawal their coins first, which they absolutely shouldn't be storing on the exchange in the first place.

Start using DEXs and avoid all this ongoing nonsense altogether.

[ajeef]

I wonder why so many exchanges shutdown their exchanges for many countries lately.
I think the volume of those exchanges still great, or the maintenance fee for maintaining those exchanges is so expensive ?

[GreatArkansas]

How Bittrex will know the country of each of every account on their platform? By some personal information submitted by every users when they asked before to undergo KYC on their users?
The other way is thru IP addresses? What if some of their users will use some VPN applications to access the Bittrex International exchange?

[Rodeo02]

I wonder why so many exchanges shutdown their exchanges for many countries lately.
I think the volume of those exchanges still great, or the maintenance fee for maintaining those exchanges is so expensive ?

I dont think it shutdown there are just retricted country and you are not able to use that exchange if your country is belong to the list above.

The maintenance fee will not be a problem of that exchange there are many users of this exchange so the profit generated by that exchange will be enough to maintain it.

[Willitivity]

Bittrex international was very good, even if for no other than, their consistency is quite applaudable.  Shutting down access for some users from different countries of the world is really not a good development. Regulations is really making exchanges take drastic decisions. I wonder what' would be the fate of these users. Bittrex should reconsider their actions, if possible.

[Google+]

This is really sad because seeing a large exchange place from Bittrex which began to close the support of several countries which in my opinion can contribute very much, hopefully there is an exchange place that can receive support from all countries so that demand from bitcoin can increase because many will use bitcoin and other cryptocurrency as one of the most efficient transactions.

[Pearls Before Swine]

That is not a satisfactory answer to shut down the service due to regulatory uncertainty and if that is the real case then they should shut down their service in more countries than the said 31 countries.

I agree, and I wish there was a clear answer to what all this 'regulatory uncertainty' really is.  Looking at that list I'm a bit surprised to not see the U.S. on it since there seems to be a problem with our country lately, eg, Poloniex dropping support.  Did they ever even offer service to people in the states?

I never used Bittrex, but I don't like to see this happen because it is an ominous sign to my eyes.  Members often question if bitcoin can ever be destroyed, and I have always said it can't, but what happens if and when exchanges no longer exist?  Don't think that will ever happen either, but one by one they seem to be going down.

[skarais]

When companies do not get regulatory certainty from the government, it will hamper the company's growth. As a result the company could not get the benefits expected before. The government regulation of a country on the crypto trading platform has caused some trading companies to stop their activities and start looking for countries with more friendly regulations.

Among the countries mentioned above may have considered Bittrex as a foreign company that might suppress the growth of their local companies to move forward. But in the official announcement, Bittrex only mentioned regulatory uncertainty as the root of the problem and did not mention the negotiation steps that had been taken.
But in my opinion, Bittrex will still be accepted by countries whose regulations are friendlier. Let them for a moment and start using other trading platforms. For what happened to this Bittrex will not have much effect on the price of cryptocurrency in the market.

[beerlover]

Looking at the list of the countries, they are all non-white non-christian countries that are economically challenged. Bittrex is an idiot if they think bitcoin is helping the European or american countries the most, it is helping literally the low income and financially distressed countries like the list here, these countries are the ones that need bitcoin to begin with and we are talking about removing them from the list.

It is idiotic to not help these people out, you have to be caring about how much money you will make in revenue more than you care about helping people out and that is not what bitcoin is, the purpose of bitcoin is to help people who do not have other means to financially reach out to rest of the world, not close the door on them when they get here.

[electronicash]

they do have a reason though which is because of the regulatory uncertainty in these countries. we have yet to find out what these countries regulatory board is doing. these countries is where BTC and crypto is pretty much needed though. i'm sure the users there can access some other exchanges other than bittrex. they still have time to withdraw until oct 29. the problem would be the users has yet not submitted kyc for they may lock the funds.

[ashmodeus]

well well well, regulation become true as the time goes.
i wonder , what the next happen.

Looking at the list of the countries, they are all non-white non-christian countries that are economically challenged. Bittrex is an idiot if they think bitcoin is helping the European or american countries the most, it is helping literally the low income and financially distressed countries like the list here, these countries are the ones that need bitcoin to begin with and we are talking about removing them from the list.

It is idiotic to not help these people out, you have to be caring about how much money you will make in revenue more than you care about helping people out and that is not what bitcoin is, the purpose of bitcoin is to help people who do not have other means to financially reach out to rest of the world, not close the door on them when they get here.

yes, i know , after i see the list of the country banned by bittrex.
and i quick recognized, and that seems weird for me.
most of in the list is the poorest country in the world by this article.
then, what's in my head is why bittrex can do such actions.
they have good reputation , but i guess after this , its not anymore.