Press Releases TheBitTimes.com

The exchange shared that all customer funds are safe but advised its U.S. customers to withdraw their funds by April 30, 2023. Cryptocurrency exchange Bittrex has announced it will be winding down its operations in the United States due to the challenging regulatory and economic environment. The announcement was made on the platform's ninth anniversary, marking a bittersweet moment for the company.  Due to continued regulatory uncertainty, we have made the difficult decision to wind down our U.S. operations , effective April 30, 2023. All funds are safe and can be fully withdrawn immediately. This does not affect customers of @BittrexGlobal https://t.co/MY4u7XLk9z — Bittrex (@BittrexExchange) March 31, 2023 Co-founder and CEO Richie Lai shared that as the crypto ecosystem evolved, regulatory requirements have become increasingly "unclear" and "enforced, without appropriate discussion or input," leading to an uneven competitive landscape. This environment ha...

It isn’t clear whether a 25-year-old European Union law means you should be allowed to get refunds on your NFTs. Should people who purchase nonfungible tokens (NFT) be entitled to refunds if they decide they don’t like their digital pictures? Some Europeans are beginning to make that case under a 25-year-old law. Unhappy buyers have claimed that their right to a refund is protected by a 1997 European Union law that requires any person or business engaged in “distance selling” — that is, buying and selling a product that is not done in person — to allow customers a 14-day grace period to return the product for a refund. But since digital goods are different, the law makes provision for the 14-day period to be waived if customers are made aware in advance. While the interpretation of the law is going to inevitably play out in the courts, there are several important caveats to take into account, particularly given that the law was written before the ubiquity of digital goods and services...