cryptocurrency exchange bittrex inc is closing its operations in the us the current regulatory climate renders it unfeasible and economically unviable to continue functioning in the country bittrex cofounder and ceo richie lai tweeted customers can withdraw their funds until the end of april while bittrexs international operations will remain active bittrex joins other digital asset firms ie crypto lender nexo inc exiting the us market due to increased regulatory scrutiny the us securities and exchange commission has launched numerous enforcement actions this year impacting companies of various sizes in the sector such as genesis global capital gemini trust co and kraken also read binances nightmare  can a 1b crypto deal survive a legal battle with the cftc in october bittrex faced a 53 million fine from the treasurys office of foreign assets control and financial crime enforcement network for failing to block customers in iran cuba and other sanctioned countries from accessing its platform the company stated at the time that it had reached a mutually agreeable resolution with ofac and fincen in 2019 new york regulators ordered bittrex to halt operations in the state due to concerns about its ability to detect money laundering and comply with sanctions bittrexs trading volume in the last 24 hours amounts to approximately 17 million as per coingecko data compared to coinbase global incs coin 14 billion volume bittrex was cofounded in 2014 by bill shihara a former amazoncom inc amzn security engineering manager along with two other cybersecurity experts from the ecommerce giant according to the platforms website lai stated in his tweet on friday that bittrex has never lost funds or been hacked next bitcoin defies us banking system turmoil as market cap pops more than 47 report