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Gate.io Joins Other Exchanges to Restrict US Traders

Gate.io, one of the smaller exchanges carrying niche coins and tokens, is restricting a series of markets for US customers. The cutoff date for trading those assets is June 30, and US-based traders are urged to move their funds as soon as possible. The list of assets includes leading coins like Ripple’s XRP and EOS, but also tokens and other assets offering payouts. The reason for this is that digital assets that pay out a form of a dividend may be considered securities. This means that the NEO and GAS assets are now banned for US-based investors, as well as Ontology (ONT) and its reward token, ONG. QTUM, WAVEX, and NEM (XEM) are also out of reach for traders, though those platforms simply offer a utility token. Still, Gate.io has chosen to be on the safe side. Tezos (XTZ) is also...