Gate.io shortens list of coins available for US users

Posted 13 June, 2019

The Chinese cryptocurrency exchange Gate.io is going to suspend trading of 19 virtual currencies, including Ripple (XRP) and EOS, which are in the top 10 in terms of market capitalization for USA traders. The company has made an announcement on Jun 12.

Following a major US company Bittrex, Gate Exchange seeks to avoid problems with US regulators regarding the listing of cryptocurrencies “suspected” of being classified as securities.

"Due to regulatory uncertainty, we will remove some coins from the available market list for USA users, effective on June 30. Non-USA users are not affected," the statement reads.

On June 30, the following cryptocurrencies will become no longer available for trading and deposits: CNYX, EOS, XRP, TRX, XTZ, BTM, NAS, QTUM, NEO, GAS, XMR, BCN, XEM, WAVES, DCR, ONT, ONG, THETA и TFUEL.

In its ad, Gate.io refers to “unclear regulation” as the main factor preventing the provision of transactional services to users in the United States.

Recently, the American exchanges Bittrex and Poloniex also took steps to “protect” US users from several virtual currencies. Meanwhile, Coinbase, the largest cryptocurrency exchange, which received BitLicense in New York, recently started with XRP and EOS.

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