RATE Group | Cryptocurrency wallet Abra to limit services for US citizens
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Cryptocurrency wallet Abra to limit services for US citizens

30 Jul Cryptocurrency wallet Abra to limit services for US citizens

Posted at 09:41h in Cryptocurrency News by

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  • The platform cites regulatory uncertainty as the reason behind the decision.
  • New York-based customers will have access only to four coins.

The cryptocurrency wallet platform Abra will no longer provide services for its US-based customers. The company cites regulatory barriers as the primary reasons behind the decision. 

All coins except for Bitcoin, Ether, Litecoin and Bitcoin Cash will be transferred to native wallet solutions for the respective assets. 

“As a result of continued regulatory uncertainty and restrictions in the United States, we have to make some adjustments to our US business in an effort to continue to be compliant and cooperative with US regulations as they currently exist,” Abra explained in the statement.

“As a part of this effort, we are migrating any synthetic assets to a native hosted wallet solution.”

The company considers the scaling down as a preventive measure amid growing regulatory uncertainties. To avoid issues…

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