Bittrex shutting down: What can exchange do differently to avert this trend.

[wxa7115]

Bittrex has been going downhill since 2017 pretty much. It was a great exchange back in 2014 because they listed pretty much all of the newest altcoins you were able to mine and had a great platform.

However they were forced to do KYC and that’s when the exchange started to experience problems and lose market share. It hasn’t been a leading since 2015-16 pretty much, just like Poloniex.

Probably, their timing for mandatory KYC was wrong but I feel that wasn't the only reason for the shutting down. I think SEC needs to take it slow with most exchanges not to frustrate this industry.

The SEC does not care about this industry, if they could kill it completely you can be sure they would do it in a heartbeat, but since they cannot do it they are taking the next best path for them, which is to use all its power and impose so much regulations that exchanges decide to not deal with US customers.

And to be honest this is nothing new, even foreign banks want nothing to do with US customers as they know the costs they will have to pay to comply with the law makes servicing those customers not worth it.

[Tigerheart3026]

Currently, it is still Binance even though their CEO has just left the exchange but Binance's volume is still high compared to others, or a new CEX that may appear in the near future as this is still a profitable business in the crypto world.
Meanwhile, US citizens can make P2P transactions or use DEX, but the volume will not be as high as CEX.

binance exchange reached another level in cryptocurrency market as a top tier exchange right now in their trading volume,
so there are no bad impact here, it seems strong foundation, they're enough rich to overcome this us charges, binance isn’t like an other exchanges, they ensured security for their users funds, it’s enough to trust binance.