CoinEx to stop serving all U.S. customers

CryptoSlate

The exchange will end support for all states — not just New York.

Cover art/illustration via CryptoSlate

Crypto exchange CoinEx will stop serving users in the United States, according to an email received by users and obtained by Crypto Slate on Feb. 24.

That message reads, in part:

“Due to regulatory requirements, we are sorry that CoinEx can no longer provide services to US citizens or residents.”

CoinEx has asked U.S. users to withdraw their assets within 60 business days (before April 24) and said that it will “gradually ban the relevant accounts” after that time.

How To Get Free Crypto  

The company identified U.S. users by their IP addresses.

Earlier this week, on Feb. 22, CoinEx was charged by the New York Attorney General’s office. Those charges aimed to have the company cease operations only in New York. Though it is unclear whether CoinEx faces regulation from federal agencies, its decision today appears to be a preemptive move to avoid such action.

Nexo similarly withdrew from the U.S. market in December over regulatory concerns despite the fact that no regulators directly forced it to do so.

CoinEx trading volumes appear to have been affected by the news. The exchange saw $29 million in volume today, down 6.2% over 24 hours and down from $35 million on Tuesday. The exchange’s CET token has been minimally affected and is down 3.8% over 24 hours — performing only slightly worse than Bitcoin, which is down 2.8% today.

CoinEx did not respond to a request for comment by the time of publication.

Go to Source
Author: Mike Dalton


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.