Duluth, MN – Duluth’s Duluth trading firm announced Tuesday that it has stopped all trading in the cryptocurrency and futures markets in the United States.
The company said that, due to the recent market volatility, trading in its U.S. market will not be impacted until January 11.
The firm said it is still processing the paperwork to reopen.
The company said it will allow customers to return to trading once the regulatory process has been completed.
The firm said that its new trading platform is powered by its proprietary technology.
It is not the first major cryptocurrency trading company to announce that it is ceasing operations in the U.A.E. Duluth is not alone.
A company called Tradex is also ending its operations in Washington state.
In a statement, Tradex CEO Michael Mather said that he believes the U .
A.R. is the only one to allow regulated markets to exist.
The market for cryptocurrency has exploded in recent months.
The price of one bitcoin reached $6,300 on Tuesday, but has since dropped by as much as 80% in the past two days.
The market’s volatility has also led to more people seeking to trade the virtual currency.