Cryptocurrency exchange Bittrex has announced that it will be winding down its operations in the United States due to a challenging regulatory and economic environment. The company’s co-founder and CEO, Richie Lai, stated that as the cryptocurrency ecosystem evolved, regulatory requirements have become increasingly “unclear” and “enforced, without appropriate discussion or input,” leading to an uneven competitive landscape. This environment has made it economically unviable for Bittrex to continue its operations in the United States.
Founded in 2014 by three cybersecurity engineers, Bittrex offered features such as a full-service API, near-instant atomic transactions, wallet infrastructure, and offline cold wallet solutions. However, the winding down of Bittrex’s US operations is a reminder of the challenges faced by cryptocurrency businesses navigating an uncertain regulatory environment.
The company’s founders have decided to…
