SPECIAL: BITFINEX Officially Terminating Business With U.S. Individual Customers

10/17/2017 - 11:13 UTC
BITFINEX  Website Terminating US Individuals

Digital currency exchange Bitfinex, affirmed in an official announcement on October 16, 2017, that U.S based customers will be entirely excluded from trading, deposits, and withdrawal on November 9, 2017.

Bitfinex’s complete exit from the US market has been on the cards for quite a while as patchwork regulation and difficulty securing “compliant banking solutions” (read BitLicense) began causing increasing headaches.

There where also previous signs that a full exit is about since the last official announcement on August 11, 2017, where they had in practice forewarned of the total exit and banished certain U.S states to stay legally compliant with the ever-changing regulations.

The official line is that :

This message is further to our announcement of August 11, 2017, concerning terminating our business with U.S. individual customers. As indicated in the announcement, we are terminating trading, deposits, and withdrawal functionality for U.S. individual customers by no later than November 9, 2017. U.S. customers are already barred from receiving financing from other users on Bitfinex’s peer-to-peer financing platform. This restriction will remain and, also, U.S. individual customers will no longer be able to provide financing on Bitfinex effective November 9, 2017.
All U.S. individual users must make arrangements to withdraw their Digital Tokens by November 9th.

They have also included a particular case for RRTs (the old BFX tokens in iFinex inc.) to be sold by already verified clients of the platform from 27 October until 9th of November.

You can find the official Bitfinex announcement here

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.