Sep 22, 2016 at 10:46 // News

Nina Lyon Author

Today, September 22 2016, one of the largest Bitcoin and cryptocurrency exchanges, Poloniex, announced that it will temporarily close all operations for residents of New Hampshire starting October 6, 2016.

The reason for this, are the changes in New Hampshire's regulations in 2016, that state that all cryptocurrency sellers are considered money transmitters under New Hampshire law and must have an appropriate license to operate in the state.



Starting October 6, no new users from New Hampshire will be able to open accounts on Poloniex, while existing customers from this state will have to suspend their accounts. Users will receive an email with further instructions on how to close all buy/sell orders with any cryptocurrency and withdraw funds.



However, according to a Poloniex announcement, all data will remain on file and Poloniex hopes to resume its operations as soon as all legal terms are fulfilled:



“Although your account will be suspended, your data will remain on file. If you attempt to log in, you will be restricted to areas only for viewing and exporting historical data. When we resume operations in New Hampshire, you will be able to log back into your account with all of your historical data and any remaining balances intact.”



Poloniex is one of the largest cryptocurrency exchanges with 110 currencies available for trading and a daily trade volume of more than $24 million USD.

Read more about what to do if you are a resident of New Hampshire with a Poloniex account here.