Cryptocurrency exchange announced yesterday that certain markets would no longer be available for its US customers from June 28.
This announcement comes on the back of Binance revealing earlier in the week that it was set to launch a new platform dedicated to US customers.
There has been an increasing trend of crypto exchanges making changes to their policy in order to fulfil regulatory requirements for US customers.
Bittrex appears to be following a similar path as the crypto exchange made a list of 42 coins that would be barred from the US market.
OmiseGo (OMG) Among Coins Barred By Bittrex
Chief among these coins is OmiseGo (OMG), the Ethereum based platform is generally regarded as a secure coin. However, it appears to have failed the KYC process used by Bittrex to evaluate the coins that would remain accessible to US customers.
OmiseGo is considered as a reputable cryptocurrency that enables cross border payment services within its network and it comes as a big surprise that the coin has been barred by Bittrex.
According to Bittrex, OmiseGo and the other delisted coins would transit to Bittrex international where it remains available for trading. US customers have until June 28 to withdraw it sell their existing tokens on the coins or risk being affected by the new policy.
After the deadline, customers would be unable to buy or sell the affected coins but could continue to hodl the coins in their wallets as long as it is still supported by Bittrex international.
This news would come as a huge blow to OmiseGo as Bittrex is one of the biggest crypto exchange in the world. It would also affect the chances of the coin getting adopted as the US market is the largest crypto market in the world.
OmiseGo (OMG) Price NOT Affected By The News
OmiseGo price has been on the rise in recent days and this trend continues in the last 24hours. OMG gained 4.34% to the dollar with its current price at $2.17 as of press time.
OmiseGo may not feel the huge impact of the decision by Bittrex as the crypto has always placed emphasis on becoming a dominating player in South East Asia.
It remains to be seen whether the delisting of OMG by Bittrex would affect the price of the coin when it takes effect on June 28.