Omisego (OMG) Joins List of Cryptos to Be Barred From US Market, Courtesy of Bittrex. Watch out! - Today's Gazette - Cryptocurrency, Bitcoin News
Connect with us

Omisego (OMG) Joins List of Cryptos to Be Barred From US Market, Courtesy of Bittrex. Watch out!

Cryptos To Watch: Today’s Market Favours Electroneum, Tezos & Waves

Altcoins

Omisego (OMG) Joins List of Cryptos to Be Barred From US Market, Courtesy of Bittrex. Watch out!

Cryptocurrency exchange announced yesterday that certain markets would no longer be available for its US customers from June 28.

This announcement comes on the back of  Binance revealing earlier in the week that it was set to launch a new platform dedicated to US customers.

There has been an increasing trend of crypto exchanges making changes to their policy in order to fulfil regulatory requirements for US customers.

Bittrex appears to be following a similar path as the crypto exchange made a list of 42 coins that would be barred from the US market.

OmiseGo (OMG) Among Coins Barred By Bittrex

Chief among these coins is OmiseGo (OMG), the Ethereum based platform is generally regarded as a secure coin. However, it appears to have failed the KYC process used by Bittrex to evaluate the coins that would remain accessible to US customers.

OmiseGo is considered as a reputable cryptocurrency that enables cross border payment services within its network and it comes as a big surprise that the coin has been barred by Bittrex.

Also READ  Omisego, BitTorrent, Dogecoin April Price Prediction: Can The Bull Conquer The Bear?

According to Bittrex, OmiseGo and the other delisted coins would transit to Bittrex international where it remains available for trading. US customers have until June 28 to withdraw it sell their existing tokens on the coins or risk being affected by the new policy.

After the deadline, customers would be unable to buy or sell the affected coins but could continue to hodl the coins in their wallets as long as it is still supported by Bittrex international.

This news would come as a huge blow to OmiseGo as Bittrex is one of the biggest crypto exchange in the world. It would also affect the chances of the coin getting adopted as the US market is the largest crypto market in the world.

OmiseGo (OMG) Price NOT Affected By The News

OmiseGo price has been on the rise in recent days and this trend continues in the last 24hours. OMG gained 4.34% to the dollar with its current price at $2.17 as of press time.

Also READ  Digibyte (DGB), Omisego (OMG), Qtum Price Predictions: Rewarding Long-term Outlook

OmiseGo may not feel the huge impact of the decision by Bittrex as the crypto has always placed emphasis on becoming a dominating player in South East Asia.

It remains to be seen whether the delisting of OMG  by Bittrex would affect the price of the coin when it takes effect on June 28.

Writer, editor and digital space observer with 5 years experience in the blockchain industry. Mail him at adeniji.olowo@todaysgazette.com.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Altcoins

Advertisement
Advertisement
Advertisement

Facebook

Press Release

Title

To Top