The United States remains to be a challenging environment for centralized cryptocurrency exchanges with recent moves by major players significantly scaling back their operations and others quitting entirely. The most recent casualty of America’s stringent regulatory climate is a one-time market Leader polionex, which has just exited from the parent company, Circle that has subsequently spun out of the United States market, in the process leaving a void for other exchanges to fill.
Until recently, American citizens could freely trade hundreds of digital assets across exchanges such as bittrex, poloniex, bitfinex, and binance. Those options are rapidly being cut down; however, as centralized exchanges have been forced to either exclude the US entirely or render the majority of their assets off limits to traders east of the Atlantic. Following being bought by an Asian investment group, polionex will continue to operate internationally, but its customers from the United States will not be able to trade from as early as November 1.
binance and bittrex have also made a move to postpone in order to reconsider their American strategies, thereby reducing the number of trading pairs available to customers in the United States of America. As centralized exchanges continue to struggle with regulations, the market seems ripe for alternative solutions, including the centralized exchanges and token swapping protocols that are and easily cowed by regulators. It is as of current a lucrative space with new players actively seeking to exploit the niche.
American trailers find themselves genuinely ill-served by centralized exchanges. Not only do they have fewer platforms to trade on, but the available options have been greatly crippled and a poor reflection of the true state of the crypto market in 2019. poloniex officially hit The Iceberg and is abandoning ship while Bittrex is severely wounded and a shadow of its former self. Coinbase, Kraken, and relaunched binance US are all options, but each has limitations following the need to appease regulators, which has resulted in a sub-optimal operating state. Coinbase is more fully a brokerage in any case while it is struggling to innovate in the strict regulatory climate it has come to find itself in.
Binance US is likely the least satisfying iteration of the exchanges that only provides a fraction of the trading pairs that are enjoyed by customers elsewhere. US channels are effectively operating with one hand tied behind the back while being force-fed the decaf soymilk latte of crypto. For the traders and investors who want to enjoy full mobility and to drink from the cup of crypto, two practical options remain for them, which are VPN or the DEX.