IOTA has made a pretty huge move lately from less than 20 cents to nearly 90. The technology is great, in my opinion a lot better than bitcoin, there's no scaleability issues, and its supercomputer proof, but there's one major problem. A few weeks ago the SEC ruled that cryptocurrencies are securities and moved that they would start getting involved with regulation. Oh joy, US government getting involved let me guess what's next. Several coins are now going to be trade restricted to the USA one of which is EOS. According to Bitfinex all EOS tokens will be frozen from trading for US customers on Wednesday, August 16th. Bitfinex has also announced that they will not be accepting new US customer account registrations, and will be shutting down all services to US members in the next 90 days. Normally I wouldn't care, but seeing how this is really the only safe exchange to get IOTA on at a decent price, this is a problem. As you can see from the below image, there are only 3 exchanges that currently have IOTA. How exactly would I be able to sell it or trade it in the future if there is no major exchange that accepts it that USA users have access to?
Is this an isolated thing, or will more exchanges be shutdown in the future. As of now the two major exchanges in the US are Coinbase and Gemini which both have passed the SEC's BS, but at the same time I can't help but feel uneasy about this as I remember what the government did to online poker back in what I think was 2008. For those of you that have invested into IOTA or into EOS (which I own) be careful and do as much research as possible before moving forward.