Bitfinex bans tokens for U.S. Investors

pereira4

legendary

Activity: 1610

Merit: 1183

Quote from: BlueChipper on August 12, 2017, 04:18:43 AM

Following the SEC's Investigative Report the cryptocurrency exchange Bitfinex announced that it will ban certain tokens for U.S. investors, in particular EOS and SAN will no longer be available for U.S. investors as of August 16, 2017 (see CoinDesk article). I am confinced that other exchanges will have to follow Bitfinex into this road. To me it's not an option but they need to do this to avoid legal issues and some visits from nice guys from U.S. law enforcement agencies.

The question then is, what the results will be for the cryptocurrency trading market in general. With those bans the liquidity of the market will suffer signficantly which in turn may result in weaker demand for certain tokens. This could bring speculation to an end for those tokens and, consequently, the hurt ICOs, right?

Let me know your take on that, thx!

Bitfinex is slowly caving its own grave step by step. With the BFX tokens thing during the so called "hack", the verification needed for simple crypto trading, and then the stupid banning of coins selectively for US citizens...

Anyone that wants to bypass this limitation only needs to get an VPN from the US and start trading.

leopard2

legendary

Activity: 1372

Merit: 1014

What a joke. Once a token is on the blockchain US persons cannot be stopped from owning them. Roll Eyes

Using smart contracts, there soon will be no need for exchanges, or even Shapeshift, to exchange tokens. SEC will have to stop ETH, or the internet for that matter, in order to enforce this.

SEC is like a horse trader organization fighting the automobile LOL Grin

Sephire

full member

Activity: 700

Merit: 136

Many ICOs have been already preventing US investors from participating by making their ICO sale
website inaccessible from US locations and/or warning on their ICO website. Buying any new ICO
tokens from exchanges after ICO ends is still fine. EOS ICO is a special one and going to go on for
many months so it is a special case. Still one can buy it from etherdelta easily.

Rodon

newbie

Activity: 106

Merit: 0

Stupid SEC. As always the government is just harassing its own people. The whole world can invest, but not U.S. citizens.

VanDeinsberg12

hero member

Activity: 1540

Merit: 507

Did you understand about the fact that the US still able to use it through use the 3rd software? I mean it will be useless. as far as i know a lot of ico already banned the US to participate in the cio but looks they still try to search another way to invest in the ico. But that needs the more verification.

BlueChipper

member

Activity: 75

Merit: 10

Cryptocurrency Advocate

Following the SEC's Investigative Report the cryptocurrency exchange Bitfinex announced that it will ban certain tokens for U.S. investors, in particular EOS and SAN will no longer be available for U.S. investors as of August 16, 2017 (see CoinDesk article). I am confinced that other exchanges will have to follow Bitfinex into this road. To me it's not an option but they need to do this to avoid legal issues and some visits from nice guys from U.S. law enforcement agencies.

The question then is, what the results will be for the cryptocurrency trading market in general. With those bans the liquidity of the market will suffer signficantly which in turn may result in weaker demand for certain tokens. This could bring speculation to an end for those tokens and, consequently, the hurt ICOs, right?

Let me know your take on that, thx!

Topic: Bitfinex bans tokens for U.S. Investors (Read 447 times)