Circle, the cryptoservices company backed by major banks Goldman Sachs, urged its US customers to withdraw their cryptoassets by December 16, 2019. Circle said it will start charging Poloniex US customers if they didn’t withdraw all their assets as quickly as possible. In October 2017, Circle was spun off as an independent company from Poloniex, the parent company of the US crypto-trading platform.
More than four years later now, Poloniex has left Circle and is gearing up for a whole new exchange. US customers are no longer able to trade on the stock exchange as of November 1, 2019, according to the company’s website. The cryptocurrency exchange Poloniex closes its US cryptocurrency trading platform on November 1, 2019.
On October 18, 2019, Poloniex sent an email informing US users that it had been spun off from its parent company Circle and would no longer work for the United States.
If you are a Poloniex US customer, you could use the same login data that you used on Poloniex and log into one of the new Poloniex US systems that will be accessible to you all.
All of your new Poloniex systems in the United States will be accessible to all of us, as will any other Poloniex system in the United States. If you want to promote the new US exchange or the regular international exchange, please read our Poloniex referral program review.
Poloniex US Customers & USDC relationship
As of November 1, 2019, all trading for US Poloniex customers will end and all their assets will be withdrawn and they should immediately stop depositing money. Established in the United States and for customers based in the United States.
This allows customers who have not withdrawn their assets from USDC to eventually get them back to their last known address. Customers who have not withdrawn their assets from a USDC can thus retrieve them to their last known address in the USA or Canada.
As of today, a US person will not be able to create a new account with Poloniex, and will not have access to their USDC account.
However, the exchange noted that all Poloniex customers would continue to have access to their crypto assets on Circle until December 15, 2019. Trading in customer cryptocurrencies in USDC has several advantages: In the coming weeks and months, we plan to trade customer assets at the volume we already see in the market. In addition, the Crypto, USDC will have multiple benefits for trading customers in the form of lower transaction fees, lower fees for customers and increased liquidity for our customers. In addition to the volumes we have already seen in our market, we are planning to trade customer assets at a much higher rate in the coming week and this month than we have traded them in recent months.
Effective November 1, 2019, all trading for US Poloniex customers will end and all accounts will have to be reopened. US customers can withdraw money from the exchange until 15 December 2019, but after 1 November they will no longer be able to trade on our exchange and should stop their deposits immediately. We will continue to support customers who have difficulty accessing their accounts or who need to complete their process to know that their account is considered dormant under applicable law.