As mentioned last week, we're taking steps to remove our margin and lending products for customers residing in the U.S. by end of year. We want to ensure the transition is as smooth as possible for affected customers. Please see below for important dates on what's next.
If you are a borrower residing in the U.S.:
On Wednesday November 28th:
- You will no longer be able to create a new margin position or add to an existing margin position.
- Any open orders that would not reduce your margin position will be closed.
Please note: We will not force customers to close outstanding positions at this point. We will update margin customers if we need to take any additional action to close positions.
If you are a lender residing in the U.S.:
On Wednesday October 31st:
- The maximum loan lifetime will be reduced from 60 days to 15 days for new and renewed loans.
On Wednesday December 12th:
- You will no longer be able to create a new loan offer.
- You will no longer be able to move new funds into your lending account.
- Auto-renewal for outstanding loans will be disabled.
- Open loan offers will be cancelled.
Please note: Outstanding loans as of December 12th will be unaffected and allowed to expire naturally.
If you have any questions, you can reach out to our customer experience team.
The Poloniex Team