Post
Topic
Board Exchanges
Re: Finally found an exchange that worked for me!
by
Aero Blue
on 30/07/2019, 00:35:16 UTC
Quote
You are not allowed to access or use the services of Abra International if you are located, incorporated or otherwise established in, or a citizen or resident of: The United States of America, Cuba, Iran, North Korea, South Sudan, Sudan, Syria and Ukraine.

Source: https://www.abra.com/

Seems like the US residents should not be able to use their services though. How could OP use this service then? Did they update their policies or they failed to KYC their user properly and just allow everyone to register?



This is an email from Abra that I received on July 26, 2019 at 5:48:10 PM CDT which outlines the changes for US users:


Quote from: Abra <contact@abra.com>
Important changes to the Abra app for US users

Due to restrictive regulatory conditions in the United States, Abra will be migrating systems for compliance reasons which will impose changes for US Abra users, as follows:

  • Synthetic assets on Abra for US users will be migrated to a native hosted wallet solution starting July 30, 2019.  A synthetic asset on Abra is anything other than Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). The migration will allow US users to continue managing and transacting with most of assets from the Abra app without interruption. However, US users need to take action for the migration by opening the app, otherwise, after August 29, 2019 their balances will be converted to BTC. Please be advised, some assets may be unavailable to use (exchange, send, and withdraw) for a few minutes while the migration takes place.
  • US users will no longer be eligible to hold QTUM, BTG, EOS, OMG, SNT after August 29, 2019. Unfortunately, with this migration we will no longer be able to support QTUM, BTG,  EOS, OMG, SNT crypto assets for US persons. US users holding positions in QTUM, OMG, or SNT will have to exchange or withdraw these investments from Abra by 11:59 PM EST on August 29, 2019. US users holding positions in EOS or BTG will have to exchange their investment by 11:59 PM EST on August 29, 2019. After that date, any remaining balances in these assets will be converted to bitcoin in the app.
  • New York residents will not be eligible to hold any synthetic assets on Abra after August 29, 2019. A synthetic asset on Abra is anything other than Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).  New York residents will need to exchange or withdraw  any synthetic holdings by 11:59 PM EST on August 29, 2019. After that date, any remaining balances in those assets will convert to Bitcoin in the app.
   
    
Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) are not affected by these changes.

For more details on these changes, please reference our announcement and FAQs.

Team Abra



Edit:

Found the post on their website which has more details on the changes: link


(Probably easier to read than my shitty formatting)