Bitfinex stops US residents support

Starting from 9th of November, popular Hong Kong cryptocurrency exchange stops US residents support 
17 October 2017   1538

The popular Hong Kong exchange Bitfinex reported that the process of stopping user services for US residents, which was launched in August, will be completed on November 9. 

At the initial stage, which began on August 11, the exchange stopped accepting new requests for verification from US users. Its decision was made due to tightening regulation of the cryptocurrency in the US:

A surprisingly small percentage of our revenues come from verified U.S. individual accounts while a dramatically outsized portion of our resources goes into servicing the needs of U.S. individuals, including support, legal and regulatory.

Official Bitfinex statement

This process has been stretched for three months, and from November 9 all transactions, including trading, input-withdrawal of funds, as well as provision of financing for margin trading will become unavailable for US citizens on Bitfinex. Holders of RRT (Recovery Right Tokens) tokens from the US will be able to sell them, starting from October 27. At the same time, the American users of the exchange will not be able to buy them.

Representatives of the exchange recommended that American users of Bitfinex withdraw all their funds before November 9.


Tether to Issue TRON Blockchain Based USDT Tokens

At the moment, a number of large platforms, including Bitfinex, OKEx, and Huobi, have announced their readiness to list new token
18 April 2019   152

Issuer of Tether began to issue USDT coins based on the Tron blockchain. This is reported by the head of the Tron Foundation Justin Sun announced on Twitter.

He also urged the exchanges and cryptowallets to support the initiative. A number of large platforms, including Bitfinex, OKEx, and Huobi, have announced their readiness to list new asset.

In addition, as Justin Sun said, the first investors will receive a reward for converting USDT on Bitcoin or Ethereum blockchains in the TRC-20 standard USDT - 20 million USDT will be distributed as additional interest payments within 100 days.

Tether and Tron announced a partnership in early March. As Tether CEO Jean-Louis van der Velde said at the time, Tron-USDT will be the next step in the company's development and demonstrates its commitment to spreading innovation in the cryptocurrency space and striving to meet the needs of the community formed around digital assets.