Regulatory requirements are often unclear and applied without adequate discussion or participation, resulting in an uneven competitive landscape.

The exchange said trading on the platform will be permitted until 14 April and all customer funds are safe and accessible.

Bittrex added that it will focus on developing Bittrex Global, its Liechtenstein-based trading arm serving investors outside the US.

Bittrex laid off 83 employees in February, citing a market downturn caused by “numerous disruptions to the crypto ecosystem.

US regulators have recently imposed restrictions on local Stablecoin issuers and cryptocurrency providers, as the Securities and Exchange Commission said both were in violation of local securities laws.

Although the Kraken exchange has already shut down its staking services, staking services should not be classified as financial securities and that the company would be “happy to defend” this position in court if necessary.

Last week, the US Commodity Futures Trading Commission (CFTC) sued Binance and CEO Changpeng Zhao for allegedly violating financial derivatives regulations by attracting investors in the US despite not being allowed to do so. Zhao has denied the CFTC’s allegations.