Crypto exchange-operator Circle announced last week that it would cease trading of a number of cryptocurrencies on Poloniex in the United States due to regulatory concerns. And now, Circle co-founder and CEO Jeremy Allaire is responding to clients, saying it is taking its concerns with Congress and global policymakers.
Poloniex chose to delist nine coins in the United States because recent guidance from the Securities and Exchange Commission (SEC) has regulators broadening which crypto assets could be considered securities, according to Allaire. Those U.S. customers holding ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI or REP on the exchange will have until May 29 to close on the cryptos. After the 29th, customers will still be able to withdraw any currency supported globally by the exchange from their wallets.