Circle to Charge Fees on US-Based Poloniex Traders’ Crypto After Dec. 16

Circle, the parent company of cryptocurrency exchange Poloniex, says it could charge United States users fees and even confiscate users’ entire balances if they do not remove their funds. The blog post stated: “There are two fees Poloniex US customers who do not withdraw their assets may be subject to: a monthly service fee while a user continues to have assets stored on the platform, and a one-time dormancy fee when an account becomes dormant per the terms of the applicable regulations.

Circle added that users would lose access to their Poloniex accounts, and that it would convert unclaimed tokens into its native stablecoin, USD Coin (USDC). “Poloniex US customers will NEVER be charged more than their total account balance,” the blog post concluded.

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