Another crypto fair that Americans are no longer welcome at. Poloniex is still part of the American Circle company, but will be transferred to Polo Digital Assets, Inc. Rumors are that this decision is supported by a group of Chinese investors. Earlier, Americans were denied access to the regular Binance and Bitfinex exchanges.
Americans not welcome
This change took effect immediately. Americans can no longer create new accounts. Americans who already have an account and store cryptocurrency on Poloniex have until December 15 to send their coins somewhere else. You can, for example, go to your own wallet or to another exhibition.
From November 1, users with an American account can no longer trade on Poloniex. The fair has sent all its American customers an email. Let’s hope everyone can act on time.
1/5: We are spinning Poloniex out of Circle into a new company with backing by an investment group that plans to spend more than $ 100M developing the exchange to offer new features, services and assets to global customers.
– Poloniex Exchange (@Poloniex) October 18, 2019
In the long run
Poloniex has also announced that they no longer fall under Circle, their actual parent company. They also change their name to Polo Digital Assets, Inc. This is what the team writes about this development:
“We have a multi-year plan to spend more than $ 100 million to develop and expand Poloniex. The cryptocurrency revolution has just begun and we are in it for the long term. Unfortunately, we cannot engage US customers to be competitive on the world market. “
Justin Sun also involved
The parent company Circle writes that Poloniex is supported by a large Asian investment group that wants to focus on global crypto traders. Rumors now circulate that the Asian group to which Circle refers is none other than Justin Sun, the notorious founder of cryptocurrency TRON.
On October 18, The Block wrote that Sun is reportedly involved in the aforementioned Asian investment group. This is confirmed by anonymous sources at Circle. According to the article, Sun leads the investment consortium and even made wax at Circle’s headquarters.
Knowing Justin Sun he will appear in the media soon enough to make an announcement to confirm or invalidate this news. He already responded via twitter, but the answer is ambiguous.
I’m not buying anything. Just invest some and help out my friends. Actually I have a huge bag of $ BNB, $ HT, $ OKB etc and bet on all exchanges that support $ TRX & $ BTT. ?
– Justin Sun (@justinsuntron) October 19, 2019
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