itBit halts services in Texas

Announcements | April 11, 2016 By:

New York-based bitcoin exchange itBit announced it would no longer be doing business in Texas.

According to an email transcript posted by Reddit user Zapf03, the exchange has started instructing their Texas-based clients to start withdrawing their funds.

The email states:

“We regret to inform you that starting today, itBit will no longer be supporting Texas residents. Your existing account may not be used to trade on our exchange or OTC trading desk.

Your account currently contains fiat and/or bitcoin funds. We ask that you please withdraw all funds from your itBit trading account by close of business on Thursday, April 14th. You can view our withdrawal instructions here.

All funds that remain in the account after April 14th will be frozen until you contact us at [email protected].

Thank you for being an itBit customer. We will contact you if our status in Texas changes in the future.”

The company has not provided any details that led it to stop its services in Texas.