Poloniex backpedals on its words: Soundchain story

Poloniex exchange reports that they did not stop working with citizens of the Russian Federation
22 August 2017   2006

What happened 

Russian blockchain startup Soundchain reported on problems with the Poloniex cryptocurrency exchange yesterday. Thus, the company had problems with withdrawing their funds after the change in the Poloniex’s policy towards citizens of the countries against which the USA sanctions are imposed. 

Among the other provisions in paragraph one, there are now a couple of sentences which, in fact, hint at serious risks for Russian users in conditions of political tension between Russia and the US. Thus, in the event of an escalation of the conflict, investors and traders may face financial losses or asset freeze while working with American companies. It is speculated that the Poloniex exchange made this provision in order to absolve itself of responsibility in case of specific sanctions against citizens of the Russian Federation on the part of the US authorities:

Poloniex policy changes Poloniex policy changes

Artem Abaev, founder of Soundchain, claimed that Soundchain team had asked the exchange support to close the account and withdraw funds. However, Poloniex responded that the exchange no longer worked with the country where Soundchain is based, therefore the company needed to withdraw funds independently, with which the Soundchain team experienced some problems since the links to the withdrawal confirmation by mail did not work. The exchange support has never answered to Soudchain requests for help since then. 

Now

However, Artem Abaev's post had a great resonance in the community, thereby causing a mass funds withdrawal of Russian Poloniex customers.

Probably, that's why the exchange's administration promptly contacted Soundchain and argued that they did not stop working with Russian citizens.

Poloniex on suspension services to citizens of Russia Poloniex on suspension services to citizens of Russia

Thus, the exchange claims that their letter was an automatic response to the request to close the account, although, as Abaev speculates, the answer didn't arrive immediately and it looked like Poloniex had checked their citizenship.

We are not going to work with the Poloniex exchange anymore as citizens of the Russian Federation due to the new terms of use and the political risks. It's time to learn Chinese.
 

Artem Abaev
Founder of Soundchain

The exchange finally restored the funds withdrawal, although Poloniex was to do it by itself according to their own rules of account closure.

Feb 22: New Crypto Listings on Exchanges

From this article you will learn which cryptocurrencies are listed on exchanges on February 22 of 2018
22 February 2018   121

There is a non-stop turnover of cryptocurrencies on the popular crypto exchanges, and there are a lot of digital coins and tokens being listed on the exchanges every day. From this article you will get to know which currencies and trading pairs will be added to the exchanges on February 22 of 2018.

DADI (DADI)

Exchanges: COBINHOOD

DADI is an acronym for Decentralised Architecture for a Democratic Internet. DADI provides a ready-to-roll Web Services framework with data at its heart, enabling the creation of real time, individually targeted experiences.

dadiDADI charts

Crypto Exchange: COBINHOOD
Category: token
Price at the moment of press: 
$0,4
24h volume: $2 895 490
Website and Explorer

Fusion (FSN)

Exchange: COBINHOOD

FUSION is a public blockchain devoting itself to creating an inclusive cryptofinancial platform by providing cross-chain, cross-organization, and cross-datasource smart contracts.

FSNFSN charts

Crypto Exchange: COBINHOOD
Category: token
Price at the moment of press: 
$3,44
24h volume: $770 519
Website and Explorer

Neuromation (NTK)

Exchanges: COBINHOOD

Neuromation is a blockchain platform (the “Neuromation Platform”) for the distributed generation of synthetic, labeled datasets for training of deep neural networks. The Neuromation Platform implements the principle of “knowledge mining”, which assumes that the computing power of mining rigs not only supports abstract blockchain cryptographic computing but also serves to solve specific practical problems that have a physical meaning.

ntkNTK charts

Crypto Exchange: COBINHOOD
Category: token
Price at the moment of press: 
$0,7
24h volume: $307 699
Website and Explorer

Substratum (SUB)

Exchange: COBINHOOD

Substratum is creating an open-source foundation for a decentralized web which will provide unrestricted access to content and sharing of information for users across the globe. Its mission is to bring forth the free and fair internet of the future by combining proven technological building blocks with emergent technologies in an innovative and holistic way to help solve many of the problems that plague the modern interne

subSUB charts

Crypto Exchange: COBINHOOD
Category: coin
Price at the moment of press: 
$0,6
Market cap: $148 673 215
Website and Explorer

Metal (MTL)

Exchange: Lykke

The MTL Token is an Ethereum ERC20 Token that uses MetalPay's unique Proof-of-Processed Payments (PoPP) to identify and reward users. Metal is a professional grade mobile application and backend that allows users to manage cryptocurrency and FIAT funds. By creating an easy to use interface, Metal bridges the gap between the existing learning curve to use cryptocurrency and the needs of users to interact with traditional currencies for payment.

mtlMTL charts

Crypto Exchange: Lykke
Category: token
Price at the moment of press: 
$4,24
Market cap: $81 804 561
Website and Explorer

Our team is continuously updating all the most relevant information regarding all newest tokens and coins which are hitting the markets and exchanges in 2018.