Bitcoin Regulations Force Poloniex to Suspend Operations in New Hampshire

By September 22, 2016Bitcoin Business

Bitcoin regulations are painful for both platforms and customers. The latest state to fall victim of Bitcoin regulations is the State of New Hampshire. Certain changes in the regulatory environment of the state have led Poloniex , one of the leading cryptocurrency exchanges to temporarily suspend its operations in the region. The suspension notice was posted yesterday on Poloniex website. According to the exchange, New Hampshire residents will not be able to open new accounts on the platform until further notice. At the same time, existing Poloniex customers will be required to suspend their accounts, on or before October 6, 2016. The platform has announced that it will be sending an email with detailed instructions to all its existing customers based out of New Hampshire. During the suspension period, account holders will not be able to trade cryptocurrency on the platform. Poloniex has requested the affected customers to close any open positions and withdraw all the funds from the platform within October 6. The option to open new margin positions at the moment stands canceled to these customers. Apart from that, they will be able to operate rest of the features normally. Poloniex states that it has made arrangements to accommodate existing open margin positions. Once the suspension comes into effect, the users will have a view-only access to their accounts. They will be able to view their account statistics and download historical usage data. Meanwhile, any balance still remaining in Poloniex accounts at the time of suspension will be reinstated once the platform resumes operation in New Hampshire. Meanwhile, the company representatives will be working closely with the regulatory authorities in the state to verify the regulatory changes applicable to the exchange and comply with any additional requirement While the presence of digital currency regulations safeguards the customer […]

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