Crypto wallet Abra restricting US services due to regulatory uncertainty
July 26, 2019, 2:07AM EDT
1 min read
Cryptocurrency wallet provider Abra has announced some major changes for its U.S. users due to “continued" regulatory uncertainty in the country. All cryptocurrencies other than bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH) will be migrated to a native hosted wallet solution.
With the changes, U.S. users will now no longer be eligible to hold QTUM, bitcoin gold (BTG), EOS, OmiseGO (OMG), Status (SNT) tokens after Aug. 29. Those customers who are holding any positions in these assets will have to exchange or withdraw their investments before the date. Any remaining balances after Aug. 29 will be converted to bitcoin automatically.
Moreover, New York residents will no longer be able to use bank Automated Clearing House (ACH), wire or American express card for deposits and withdrawals after Aug. 29, per the announcement.