Topic: Poloniex closes his doors for US citizens - page 2. (Read 303 times)

It's going to happen more often. USA is probably the only country in the world that thinks a business located in another country has to obey their laws just because some American citizen used their service. If every country acted like that there would be chaos. Every country in the world would sue a business from another country because it broke their local law.

Businesses are afraid of the bully that the USA is.

  wow, thats huge.  although it says for NEW accounts, even trading is gonna stop for US citizens, thats rough
i havent used polo since they lost touch (imo about 2 years ago), so luckily for me this wont affect much
if their business is not going well its their own fault, they were KINGS at one point, but shit CS and big headedness seems to have run its course

Let me quickly notify my US friends to be aware that withdrawal of funds by US citizens dead line is 15th December. It's obvious that regulatory policies led to this new update, if not why will Poloniex shut the door for US traders. Poloniex was one of my favorite exchanges way back but since this year, they've been under performing and it's really sad. Let's see if they come up with revamped strategies to get to the top again.

I got an email from Poloniex about re-branding but didn't read through since I was driving. Poloniex might be having a hard time lately but I think they are coming up with strategies to bounce back. Like for example the zero percent fee for spot trading till end of year mentioned is a catchy strategy, definitely crypto traders will like the idea.

There are 3 aspects to this downfall:

1) U.S. ignorant and often false regulations of shitcoins and what entitles a security. SEC and other regulatory bodies have claimed power and dominance over cryptocurrencies, some companies are yielding despite not even being under their jurisdiction and others have been properly legally served.

With the current climate, U.S. is not crypto or blockchain friendly, thus will lead to U.S. dominance over this tech space (namely with start-ups), billions and potentially trillions (in the future) in potential capital and taxation from businesses will be lost to the east and other locations. A short-term ignorant vision for crypto, run by morons in these agencies.

Libra's presence has accordingly forced these agencies hands. In all essence, anyone who supports Libra or ever did, knows nothing about cryptocurrency or the underlining ideologies of blockchain. Despite all postive growth, awareness and etc, Libra is a short-term gain and a major long-term plague on all crypto and blockchain entities.

2) Circle is and has always been one of the worst crypto businesses lead by some of the biggest clueless people in all of crypto. CEO is a complete moron, which has been discussed and talked about over the years. Yes, he's manage to run circle since 2014, but Circle has had so many failures and poor management, especially with Poloniex. Poloniex once paved the way, but all U.S. crypto exchanges suffer from the same thing, unable to operate properly under heavily restricted rules and guidelines (therefore, unable to list any coin that may be in a grey area).

3) Competition from bigger exchanges. If a company is squeezed and restricted tightly, as noted above, then they are unable to function and maintain a proper business. Poloniex ultimately suffered from points 1 and 2, but 3 eventually broke its back in the U.S.


While Poloniex isn't essentially going away, it's for all intensive purposes a dead exchange. The only reason Poloniex has remained intact, was due to its presence in the increasingly restrictive U.S. climate.



Tristan is laughing and both crying. Just like many who've been around since the very first days of Poloniex with NXT and the eventual dominance of Polo with ETH's launch.

Who uses Polo anymore anyway? I can remember it being one of the best. As soon as the new about Circle acquiring it became public they fell off the face of the earth. From #1 in daily volume to who the hell knows what now.

Poloniex closes his doors for US citizens:
https://medium.com/circle-trader/poloniex-spins-out-from-circle-with-new-backing-global-focus-5a19357bdaee
What do you think about it and future of Poloniex?
Also they made 0% fee for all spot trading to the end of year.  
It seems that their business is not going very well in last days.