Bitfinex Unavailable Anymore For US Customers

ยท 17 Oct 2017 in Crypto News, Home

Recently, Bitfinex announced that USA users won’t be able to use their service anymore. This announcement come after on August 11, 2017 Bitfinex suspended the U. S. Individual Verification Requests. In that blog post, they declared they need time to consider whether to keep working with U. S. customers or to close its doors for them.

Final Decision : Bitfinex Will No Longer Be Available For U. S. Individual Customers

Today however, the decision was made. Bitfinex has officially stopped its service for U.S. Individual Users. The trading, deposits and witdrawal functions will be available until November 9,2017. Since November 9, U. S. individual customers will no longer be able to provide financing on Bitfinex.

Therefore, if you have funds on Bitfinex be sure to withdraw them until November 9, 2017. Afterwards it might be impossible to do this anymore. Besides this, the U. S. individuals who are holding Recovery Right Tokens ( RRTs) will be able to exchange them starting October 207, 2017. the RRTs which won’t be sold until 9 November can also be sold trough an arrangement with Bitfinex on a OTC basis.

Even though it was known for some time that Bitfinex have problems regarding US regulations – many people thought that they`ll find a way to solve this. But after a period of trying different “compliant banking solution” – they decided that it’s better this way.

Reactions never ceased to appear however. More and more traders are surprised by the decision that Bitfinex made. On Reddit, people are already finding an alternative for Bitfinex.

These are not good news for U. S. traders from Bitfinex and for Bitfinex neither. Right now, Bitfinex lost a large amount of their customers as they had the supremacy over the BTC/USD trading with a 40.69% volume.

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