Bittrex ceases service in 31 countries

Bittrex International, an international trading platform that provides Bittrex crypto exchange services, will cease operations in Venezuela and 30 other countries.

For unknown reasons

In an email to Venezuelan customers, Bittrex International announced that the exchange would suspend access to accounts and trading for users on October 29, and asked them to withdraw their funds from their accounts before that date.

According to a Cointelegraph Español article, the Malta-based bittrex platform informed its entire user base in Venezuela of the service stoppage in the country without giving a clear reason for it.

However, according to information obtained by a news source, Venezuela is not the only country that this time should stop using Bittrex services. The exchange confirmed it was effectively halting service in 31 countries, including Afghanistan, Egypt, Bosnia and Herzegovina, Cambodia, the Central African Republic, the Democratic Republic of the Congo, Tunisia, Ethiopia, Uganda and Yemen.

Venezuela and Crypto

As previously reported, Venezuela has become more dependent on decentralized cryptocurrencies such as bitcoin (BTC), due to the monstrous inflation in the country and because of the attempt to avoid sanctions from the US.

In early September, the volume of BTC trading in Venezuela reached a new record - on the OTC market LocalBitcoins volumes increased by 48%. On October 1, two Venezuelan companies entered into an agreement to issue a cryptocurrency debit card and point-of-sale system supporting BTC, ETH, DASH and the national cryptocurrency, Petro.

Yesterday, another popular us crypto exchange Poloniex announced that it was quitting its parent company Circle to create a new exchange that would not support trading for US customers.

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