Poloniex Halts Trading of Altcoins; REP, OMNI, NXT, LSK, GAS, GAME, DCR, BCN and ARDR in the US
The crypto exchange Poloniex, has stated that they will cease sales of the following crypto assets to American buyers namely; GAME, LSK, NXT, DCR, ARDR, GAS, OMNI, BCN and REP.
Poloniex said that the listed 9 assets will still be available for buyers outside the US, but as they are very close to being defined by US law as Securities, restrictions will have to apply.
“It is not possible to be certain whether US regulators will consider these assets to be securities” Poloniex stayed in a Medium post.
They communicated with their users who may currently be holding the listed assets, urging them to close any current trade positions involving these assets before the 29th of May.
US based holders of these assets would freely withdraw from their assets once the nine crypto assets are delisted, as long as the assets are still being traded globally by the exchange.
Last year February, Circle bought over the exchange. It would appear that the new management is looking to improve transparency in the trade of assets such as GAME and LISK, so as to ensure regulatory compliance.