Embattled cryptocurrency exchange Bittrex Global has decided to shut down operations after its US-based arm filed for bankruptcy earlier this year amid a slew of regulatory challenges.
The foreign exchange will shut down all trading activities on December 4.
No concrete withdrawal deadline has been set, but Bittrex Global recommends that customers withdraw their assets as soon as possible as “a withdrawal deadline may be set by the trustees at some point in the future.”
The exchange also notes that customers cannot withdraw their US dollar holdings directly and will need to convert any USD into crypto or euro before the December 4 deadline.
Bittrex Global’s domestic affiliate filed for bankruptcy in May after the U.S. Securities and Exchange Commission (SEC) accused the Seattle-based exchange and its co-founder and former CEO William Shihara of operating an unregistered national securities exchange, broker and clearing agency.
At the time, the exchange claimed on its website that the bankruptcy announcement would not affect Bittrex Global.
However, the SEC also charged Bittrex Global with failing to register as a national securities exchange in connection with its operation of a single shared order book with the Seattle-based company.
Bittrex started phase out its US operations at the end of March.
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