Bittrex moves head office to Lichtenstein amid regulatory uncertainty

Bittrex moves head office to Lichtenstein amid regulatory uncertainty

Cryptocurrency exchange Bittrex has announced it is moving its headquarters from Malta to Lichtenstein, as it prepares to launch as Bittrex Global.

Currently known as Bittrex International, the exchange is shutting down shop in the so-called “blockchain island” in order to relocate to the European microstate of Liechtenstein.

While no official reason has been given for the move, some commentators have noted it coincides with measures from Malta’s financial regulator to “actively monitor” licensed crypto operators for compliance with anti-money laundering procedures.

In a post on Medium, Bittrex said the new company would strive to become the leading global exchange for blockchain tokens.

Bittrex Global is a new European exchange utilizing the trusted Bittrex technology platform. Headquartered in Liechtenstein, Bittrex Global aspires to be the premier global exchange for trading new and innovative blockchain tokens.

According to the post, Bittrex International customers will be able to seamlessly integrate into the new platform, with the same username and password for their accounts carried over to Bittrex Global. It stated, “Once Bittrex Global launches, eligible Bittrex International customers, including corporate accounts, will be seamlessly redirected to Bittrex Global. Once there, you will simply use your current Bittrex International username and password to access the new site.”

The changeover process is set to begin this week, with customers being offered the chance to accept the Bittrex Global terms and conditions within their Bittrex International accounts. Bittrex International will shut down by October 29, with social media accounts retired on the 30th.

The move comes a matter of days after Bittrex International announced it was closing operations in 31 countries, and gave users until later this month to withdraw any funds held in their accounts.

Citing “regulatory uncertainty,” the firm closed down its operations in countries including Venezuela, Egypt, Iraq, Botswana, and Uganda.

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