Poloniex Bitcoin Exchange Resumes Work in Washington State

Poloniex Bitcoin Exchange Resumes Work in Washington State

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The Poloniex Cryptocurrency Exchange has once again become available to residents of the US state of Washington. Thanks for the new Institutions.

According to company representatives, this was made possible by obtaining a new license from the Department of Financial Institutions, which gives the green light to work in this state. Note that Poloniex stopped working in Washington state in April 2017.

Shortly before this, Bitfinex took a similar decision, and after some time Kraken and Bitstamp followed suit. In August of the same year, the popular exchange platform ShapeShift ceased operations in Washington.

The massive departure of cryptocurrency companies from this state was most likely caused by a significant tightening of industry regulation. Thus, in the spring of 2017, lawmakers in Washington obliged companies working with digital currencies to fully reserve customers’ deposited funds, as well as to undergo a cybersecurity audit.

However, after some time, the attitude of the authorities of this state to the blockchain and cryptoindustry has changed somewhat. For example, a bill was passed legalizing the status of entries in the blockchain.

The number of cryptocurrency companies lobbying their interests in Washington also tripled. ForkLog has previously reported that Poloniex will allow customers to earn money on the stacking of ATOM tokens from the Cosmos project.

Poloniex Bitcoin Exchange Resumes Work in Washington State

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