Crypto exchange ends support for all states of the U.S.
CoinEx stops serving U.S. customers
According to an email that users received on February 24 from CoinEx, crypto exchange will stop serving users in the United States.
The message says: “Due to regulatory requirements, we are sorry that CoinEx can no longer provide services to US citizens or residents.”
CoinEx has already asked U.S. users to withdraw their assets within 60 business days (before April 24). In addition, the exchange announced that it will “gradually ban the relevant accounts” indentifying them by their IP addresses after that time.
On February 22, the New York Attorney General’s office charged СoinEx. Those charges aimed to have the company cease operations only in New York. Though it is unknown whether CoinEx faces regulation from federal agencies, it seems that its decision to stop serving U.S. customers may be a preemptive move to avoid such action. Previously in December Nexo also withdrew from the U.S. market over regulatory concerns despite the fact that no regulators directly forced it to do so.
CoinEx’s trading volume appears to have been affected by the news. The exchange posted $29 million in volume today, down 6.2% in 24 hours, down from $35 million on Tuesday. The exchange’s CET token has been minimally affected and is down 3.8% over 24 hours It is only slightly below Bitcoin, which is down 2.8% today.
СoinEx declined to comment on the situation
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