Poloniex, once the God-king of altcoin exchanges, will formally eliminate all Americans from its platform today.
Even good old Donald J. Trump will not be able to dump, for example, TrumpCoin, on Poloniex moving forward. At BSN, we’re sure he is devastated by the bad news.
Polo announced the purge October 18th, and finalized it today. The message was buried in an unrelated blog post. It was prefaced by an October 3rd move in which the exchange stripped US traders of important features at Polo, such as leveraged trading.
The move is part of the exchange’s ongoing efforts to comply with regulations worldwide. Poloniex was once an independent and vibrant trading community which was uplifted over several bull runs by the alternative cryptocurrency scene.
However, in February 2018 it was purchased by Circle, who have since made dozens of newsworthy changes to the platform.
Donald Trump Versus CIrcle CEO Jeremy Allaire
Perhaps, at the time, Allaire believed the industry couldn’t survive without US government blessing. However, a number of other industries have proven the exact opposite, from cannabis to pornography.
In July, US President Donald J. Trump trolled the Bitcoin community, to the surprise of some.
It should be noted that Polo’s stepsister company, Circle Invest, is still open to US citizens residing in North America.
Polo’s Last Stand: Curation
Another major change for Poloniex this year has been its swift reduction in the assets it’s willing to carry.
Moving toward the “Curation” listing style pioneered by exchanges like Coinbase, who rarely add or remove assets to their platform, Poloniex might as well be a different product altogether now.
If you’d like to know where the traders who made Poloniex huge have gone, you should check Binance, who have done everything Poloniex used to do right and added at least as many new ideas and achievements.