The Money Printer punches back
Not too long ago, I had to exit the exchange CoinEx due to the ever-annoying State of New York suing them. In essence, CoinEx did not care to play the game. They opted not to serve US customers sometime this month. There's a point where appeasing 4% of the world's population is not worth the hassle.
I withdrew the last bit of my CET (the exchange's token) as GALA. I figured leaving a polite message for them was the least I could do. I do believe I will be involved with them again one day.
And really, I think the result spoke for itself. As much as I would like to use VPN to continue to use this exchange, I don't want to run the risk of having my assets seized. Not at this time. Not to mention the RESTRICT Act fiasco, Uncle Sam is trying to curtail people's rights.
Recently, Bittrex also declared that they are ceasing operations in the US. I bet the stakeholders are glad they reached their lawsuit's conclusion before this monumental move. I haven't used their exchange much in the last cycle, but they still had a place in my journey.
What do CoinEx and Bittrex have in common? They are on and off ramps for the US residents to HIVE. As of now, I may have to dive into Simple Swap to get into this space. If not, you won't be seeing me buying any time soon. I'm aware there are other exchanges like Gate.io and MEXC. I'm not signing up for more centralized exchanges anytime soon.
If you search online, you see CoinEx and Bittrex weren't the only ones under attack. KuCoin was also a target of the wonderful State of New York. Before US residents think it would be nice if KuCoin could list some of their favorite lesser-known coins, think again.
Source
The next time you see the smugness of Letitia James, remember she's your enemy. She works for the establishment and doesn't serve your interest.
For the so-called "patriots" out there, you can't have your cake and eat it too. For crypto to succeed, the dollar hegemony must fail. It doesn't mean a complete collapse of the USD. It means the world needs to stop conducting most of its trades in "I owe you nothing" before there's a chance the world could move into more assets you can self-custody.
The governments of the world can always issue their fiat currencies. The people will hold on to their commodities, both physical and digital.
Posted Using LeoFinance Beta
I thought this ceasing of operations was only here in Nigeria, I never knew it was all around.
I guess it's broader than we thought.
Yeah it is. But this is not meant to be so when we view it from other perspective
I jumped into my Bittrex account the other day to make sure I didn't still have anything on there. Can't say I didn't see it coming, but it is still pretty ridiculous. Like I said last week, it won't be long before we have to resort to back alley dealings to do our buys.
I only have like $0.10 left in there which I can't withdraw because it's dust.
Yeah, this whole pushback will drive things underground.
It's sad. We need to be better than this. We should be setting the standard not being the cautionary tale.
US has chosen to be left behind.
I'm also not able to trade on Bittrex, they ceased my country a year ago.
Oof.
We hope for this challenges would be resolved sooner.
Probably not. It’s just the beginning.
Bittrex isn't used here as i prefer binance to exchange different tokens although it demand KYC but it's good in use
Yeah US residents can't use Binance proper for years.
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Oh. How polite of you. People mostly yell at exchanges. This must have been a pleasant surprise for the team.
I did like that exchange as well. Unfortunately I was worried to be shut out eventually.
They outlasted FTX that’s for sure.
Conclusion: pass the proposal to list sps on centralized exchanges :)
I didn't know your name was Rectangle.
Everyone needs a pseudonym.
Get Rect on the phone. We have an emergency.
I've been putting a lot of deep thought into scenarios lately. Looking at the future. Want to see something? In a subtle way, you've highlighted some outs. Forcing a population to struggle in one space will open the door and make it easier to thrive in others more welcoming. Seems like the obvious solution. Sit and wait for something better or simply go somewhere better. People need to be careful with that because the one closing the door and the one opening another door could be the same. Then cutting off the rest of the stragglers is as simple as shutting off the power. A lit room can be a dark cage as well.
Time will tell what happens.
2:55
I didn't open an account with either of those exchanges and I see rough times for crypto. The on and offramps will continue to get attacked by the politicians/government because they want to make it harder to get involved in crypto. The crackdown will continue and I wonder if there will be decentralized on or offramps in the future because it would be hard to hit them.
Posted Using LeoFinance Beta
There will be ways.
I was extremely bummed to get the notice from Bittrex. I've used them since 2017. Luckily my wife is Japanese and we live in Japan.
This is an attack on crypto that started with Silvergate followed by Signature. Running won't solve the problem. The exchanges should join Coinbase and fight.
We shall see. It looks like the government wants the US to be left behind.
They are just clearing the way for the July announcement of the US digital dollar. I bet the fucks will announce it on the 4th of July too.
How ironic that’ll be…