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Boston based provider of peer-to-peer payments technology announced that it is moving operations of its crypto exchange, Poloniex (which it acquired in February 2018 for $400m), amid mounting regulatory pressures in the U.S.
Circle announced Monday it received a full Digital Assets Business Act license in Bermuda for its crypto exchange Poloniex. Circle CEO Jeremy Allaire told CoinDesk that 70 percent of Poloniex users hail from beyond the U.S. and the new Bermuda-based entity will handle those accounts from now on. In May, the company geofenced some assets on Poloniex from U.S. customers. “Europe and Asia are both pretty significant markets for us in particular,” he said, adding the USDC stablecoin is particularly popular with institutional Asian investors. “The lack of regulatory frameworks significantly limits what can be offered to individuals and businesses in the U.S.”
https://www.coindesk.com/circle-moves-non-us-poloniex-customers-to-new-bermuda-entity
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