### Bittrex to cease operations in the U.S. because it is "no longer feasible"


On Friday, cryptocurrency exchange Bittrex announced its U.S. platform would cease to operate on April 30. 


Co-founder and CEO Ritchie Lai tweeted, “it’s just not economically viable for us to continue to operate in the current U.S. regulatory and economic environment.”
 
<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Thank you everyone.... &lt;3 ;( <a href="https://t.co/kq8nTRT0Aj">pic.twitter.com/kq8nTRT0Aj</a></p>— Richie Lai (@richiela) <a href="https://twitter.com/richiela/status/1641879643497308161?ref_src=twsrc%5Etfw">March 31, 2023</a></blockquote> 


 
He also assured customers that funds are available for withdrawals.
 
This announcement comes after U.S. regulators have seemingly stepped up the exercise of their oversight powers over the crypto industry. Last week, there were reports that Coinbase and Kraken faced issues with the Securities and Exchange Commission (SEC).
 
Coinbase announced that it was informed by the SEC that it may face enforcement action because of potential unlisted securities. On the other hand, Kraken paid a $30 million fine and shut down its crypto staking service.
 
Lai referenced U.S. regulations in the decision to end its operations in the country after nine years. “Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape.”



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