Poloniex To Disable WA Accounts (USA)
I just received this message from Poloniex -
Hello,
After careful consideration of the Washington State Department of Financial Institutions' interpretation of its financial services regulations, we regret to inform you that Poloniex will be suspending operations for our customers residing in Washington until further notice. As a verified Washington resident, you have two weeks to close any open orders and withdraw your funds from Poloniex.
During this time, your account will function normally, but you will be prohibited from opening new margin positions, adding to existing ones, and lending funds.
After April 21, 2017, your account will be placed in a suspended state and access will be restricted. If you still have funds on balance at this time, you will need to file a support ticket in order to withdraw your funds. There is no deadline on this, but we request you withdraw as soon as possible.
When your account is placed in a suspended state, your data will remain on file and accessible. If we resume operations in the state of Washington, you will be able to resume trading with the same account, with all of your historical data intact. If you happen to move out of Washington and to state where our services are available, please contact support. You will be given instructions on how to verify your new state of residence.
We look forward to welcoming Washington residents at a future date. Until then, we will do everything we can to help you wind down your account.
If you need support: https://poloniex.freshdesk.com/
Sincerely,
The Poloniex Team
http://www.dfi.wa.gov/about-dfi/contact-us
I urge everyone that has the time to do so to write an email to the WA state financial board. Tell them this is not fair, and will not be accepted.
Good idea!
This is Washington state. As voting and legislative across-the-aisles agreements and other decisions are overturned by "our leaders," I have no reason to believe anyone in a leadership position will opt for any decreases in anything that smacks of regulation and results in more dollars. We really don't have the intelligence to make our own decisions as citizen but we were able to vote in people far smarter than us to take care of us. :-(
That's concerning! Thanks for the update!
zoinks. if washington falls, who's next?
wonder why they are doing this all of a sudden?
That is exactly what I thought.
Glad I don't live in Washington, yikes! When I seen USA in the sub-heading, my jaws dropped lol
Changes will always occur however! Our online gambling laws out here in Cali continue to change. It is currently illegal to gamble online but fine to gamble@some random casino in real life? SMH
Government laws are so contradictive SMH
Resteemed ;)
Probably just the beginning. I expect to see the service for german customers being suspended every day.
Damn... I didn't know this. I guess I will be getting an email from them soon, too. Rats! I'm tired of everything getting prohibited for no good reasons... other than wanting to meddle in people's business.
This doesnt stop you from trading on any other platform that hasnt implemented this, and it can never stop you from trading on decentralised exchanges like bitshares.
I have not used any of the decentralized exchanges but my understanding is that for position or daytrading, they are too slow. I suspect the cost is the same as for the most popular exchanges. I do see that, of course, they are not listed on coinigy, which, for me, is a deal-breaker. :-( Feel free to edu me.
I dont know what coinigy is and as far as being slow, 3 second block times fast enough for you tested to 60k TX per second?
Yes, but Polo has the best volume for trading. None of the other come even close to polo Alts when it comes to volume.
This is a case of chicken and egg, if we as a community conservatively moved to DEXs which there are number of them the four that I have found thus far that are dependable are, bitshares, counterparty, burst and ethereum, it would result in the volume we seek.
Was going to post this, but glad you have it covered sir!
This is such BS. I hate Washington States stupid regulation. They always have to screw things up. So many exchanges have left. I'm getting extremely frustrated and now i don't know where i'll be doing my trading.
@whatsup this is bullshit. I have already taken the steps to keep my account in good standing. Thankfully I am a tri citizen and hold 3 passports. Will be relocating out of Washington for a bit it looks like. I prefer to stay state side anyways though so might look into Hawaii. I know Coinbase is banned there but not sure if Poloniex is. I have messaged @bitcoinparadise to find out. I think this is a sign anyways..I have been meaning to get out of the "rat race" city life of Seattle. Im sick of the rain here and the dark weather. Hawaii has been on my mind for a long time. Something about the islands ever since I left the last time I cant stop thinking about going back. We are very lucky to have such a beautiful state. Hopefully we can figure out how to take care of it as best as possible. One thing is for sure, when Steemit becomes very successful we can do the opposite of what Zuckerberg is doing in Hawaii.
Exchanges in Hawaii are all going to be banned says my homie in Waikiki.
We will see I am going to make some calls myself. I wonder why Washington state has decided to do this now of all times.
Evidently (if I understand the legislation correctly) this all has nothing to do with trading cryptos and everything to do with Washington State legislating and collecting taxes and fees on the pot industry... the anonymity of cryptos being used to bypass fees/taxes.
There was a company here that just opened... crypto POS integration for Dispensaries. So they could accept visa cards. Right now most places are cash only. - I guess they wont be able to operate here now either soon...we will see.
Me and you both are tired of Seattle.
This post has been ranked within the top 25 most undervalued posts in the first half of Apr 08. We estimate that this post is undervalued by $0.30 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Apr 08 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.