RATE Group | Cryptocurrency Exchange Poloniex to Yank U.S. Margin, Lending Products
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Cryptocurrency Exchange Poloniex to Yank U.S. Margin, Lending Products

06 Oct Cryptocurrency Exchange Poloniex to Yank U.S. Margin, Lending Products

Posted at 16:23h in Cryptocurrency News by

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Cryptocurrency exchange stop allowing US traders to use margin products

Poloniex, the exchange Circle has been working to revive since acquiring it in February, announced in a blog that it will eliminate its margin and lending products for U.S. customers by year’s end and delist three altcoins. The company noted it is removing the margin and lending products in the U.S. to ensure the exchange complies with regulatory requirements, although it did not specify what requirements.

As of Oct. 10 at 12:00 ET, the exchange will delist GNO (Gnosis), AMP (Synereo) and EXP (Expanse). Customers will be able to close out all trades and withdraw balances for these assets up until Nov. 9 at 12:00 ET. Market caps on Oct. 4 were $23,992,956 for Gnosis, $,137,016 for Synereo and $3,125,636 for Expanse, according to coinmarketcap.com.

Customers Urged To Withdraw Funds

After Nov. 9 at 12:00, Poloniex will not be able to process withdrawals of affected assets. Holders of the affected assets will have 30 days to withdraw funds. The deadlines could be extended in…

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