Bittrex, a cryptocurrency exchange founded in 2014 by three Amazon alumni, has announced that it will shut down its US operations due to regulatory challenges. The exchange cited a regulatory environment that has made it “no longer feasible” to operate in the country.
Bittrex’s US operations will wind down effective April 30, 20232. However, its Bittrex Global arm will continue as usual.
Bittrex’s announcement comes as U.S. regulators launch perhaps the toughest crackdown on the crypto industry yet.
The U.S. Securities and Exchange Commission has hit a number of American crypto companies with fines—including popular Kraken last month.