Cryptocurrency exchange Poloniex is going to remove all products related to margin trading and lending. At this stage of development the main goal Poloniеx is regulatory compliance.
Since October 3, Poloniex announced its plans to remove the margin and loan products along with the delisting of three of the cryptocurrencies on its platform by the end of 2018.
According to the official statement Circle regarding changes in Poloniex, such action is necessary to comply with the trading platforms regulatory requirements in each jurisdiction.
To Circle added that in the coming weeks will be released more news about the exact date of termination of access to the products of lending and margin trading, but called on existing customers to take steps to prepare for the changes. Any existing loans between Poloniex and their customers will remain unchanged for a specified period of time.
Also on 10 October, the exchange Poloniex delisting will hold 3 cryptocurrencies: Gnosis (GNO), Synereo (AMP) and Expanse (EXP).
Such steps are most likely associated with the actions of the attorney General of the state of new York Babar underwood, recently handed the three leading exchanges, Binance, Gate.io and Kraken, to investigate possible violations in new York state laws on digital assets.
In the face of ongoing regulatory crackdown in the cryptocurrency sector of Commerce, it seems that Poloniex is trying to be one step ahead of events to continue to freely continue its development.