Bitfinex, a major cryptocurrency exchange, has announced its plans to move its derivatives services out of El Salvador following the country’s decision to grant a license to a different exchange. This move comes as a surprise to many in the industry, as Bitfinex has been operating in El Salvador for quite some time. The exchange has not provided any details on where it plans to relocate its derivatives services, but it has assured customers that their funds will not be affected by the move.

This decision comes just days after El Salvador became the first country to adopt Bitcoin as legal tender. Bitfinex’s move may be seen as a response to the increased government scrutiny that comes with this new status. However, the exchange has not explicitly stated that this is the reason for its decision to relocate its derivatives services.

Bitfinex has assured its customers that the move will not impact their ability to trade on the platform. The exchange has stated that it will continue to provide a seamless trading experience for its users, regardless of where its derivatives services are located. Bitfinex has also stated that it is committed to complying with all applicable regulations in the jurisdictions where it operates.

While Bitfinex has not provided any specific details on where its derivatives services will be relocated, the exchange has stated that it will provide updates as more information becomes available. In the meantime, customers can continue to trade on Bitfinex as usual, with the assurance that their funds will remain safe and secure.

The post Bitfinex Derivatives relocating to El Salvador following acquisition of crypto license in the country appeared first on Crypto Breaking News.

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Filed under: News - @ January 8, 2025 5:24 am