Bittrex considers Returning Frozen Funds to Users in Sanctioned Areas

Bittrex considers Returning Frozen Funds to Users in Sanctioned Areas

Bitcoin
November 12, 2019 by cryptogavel
199
Bittrex considers Returning Frozen Funds to Users in Sanctioned Areas   Bittrex, a US based cryptocurrency exchange is likely to return cryptocurrency  funds to to users  it blocked from its platforms as a result of international sanction. As indicated by a tweet distributed by previous client Ziya Sadr, Bittrex is currently contacting clients who live
Bittrex considers Returning Frozen Funds to Users in Sanctioned Areas

Bittrex considers Returning Frozen Funds to Users in Sanctioned Areas

 

Bittrex, a US based cryptocurrency exchange is likely to return cryptocurrency  funds to to users  it blocked from its platforms as a result of international sanction.

As indicated by a tweet distributed by previous client Ziya Sadr, Bittrex is currently contacting clients who live in endorsed countries where it’s legitimately unfit to offer its administrations to send them their solidified assets.

The tweet has a letter which clarified that Bittrex doesn’t offer clients administrations as a result of the U.S. Treasury’s Office of Foreign Assets Control (OFAC) yet has now been permitted to restore clients’ assets. It clarified:

”In May of 2018, Bittrex filed an application to permit it to release the funds currently frozen back to the owners. This application was recently granted and we are writing to let you know that you may withdraw your funds to another exchange.”

They will only be able to receive their funds if the balance was above the withdrawal limit, which varies from crypto to crypto.

To receive their funds, users must submit a request by March 15th of 2020.

 

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