Poloniex and Bitfinex have ceased their service in the US state of Washington
By the new legislation in the State of Washington (Senate Bill 5031) the exchange markets Poloniex and Bitfinex are no longer ready to offer their service further.
http://lawfilesext.leg.wa.gov/biennium/2017-18/Pdf/Bills/Session%20Laws/Senate/5031-S.SL.pdf
In order to continue to be active in the state of Washington, it would need a license, as purchased by Gemini. However, they do not see Poloniex and Bitfinex as the new rules are inefficient.
The new law is intended to regulate the exchange of money, including cryptic exchange. This also includes the requirement that stock exchanges are obliged to cooperate with other companies or audit firms in order to have their business supervised. This would mean that practically all electronically stored information would have to be disclosed.
In addition, the stock exchanges are intended to establish a type of hedging fund, which is based on the last transaction volume.
For the two exchanges the associated effort seems not to be worthwhile, Poloniex says:
"After intensive discussions with the Washington State Department of Financial Institutions and its interpretation of financial regulation, Poloniex will cease to serve in Washington"
Lovely regards
@danyelk
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Thanks for Share!
You are welcome! Have a nice day :)
Great info. Still have a lot to learn about this!
Thank you! I think we all have to learn more and more about the crypto world there is every day something new because it is still in the beginning crypto is still very young and it is good to jump on the boat now and grow in it. Have a nice day :)
@danyelk got you a $1.87 @minnowbooster upgoat, nice! (Image: pixabay.com)
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