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Crypto.com to End US Institutional Exchange Service

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Crypto.com has files made the decision To stop the Institutional Exchange Service for Client in United State , with comment set Takes effect on June 21st.

Singapore-based cryptocurrency exchange move to mix of Limited demand It is institutional and tough clients market conditions.

Leave the United States

CryptoTea, a well-known anonymous character for Share it in cryptocurrency communityhas raised an important note regarding the recent actions of the Securities and Exchange Commission (SEC).

Specifically, the SEC explicitly mentioned the trading of many tokens on Crypto.com likely falls into this category of The securities that Binance and Coinbase were under fire for just A week ago. These tokens include Solana, Sandbox, MATIC, CHZ, BNB, MANA, ALGO, and more.

“We are late made a business decision to suspend the institutional offer of Crypto.com exchange in United State of 11:59 PM EST on June 21, 2023, due to limited availability demand of institutions in United State in the current market Aesthetic view. Affected institutional users were given prior notice support Smooth transition.

Crypto.com.

June 2023 was a special month with Big upset for Cryptocurrency exchange scene in United State.

The Securities and Exchange Commission (SEC) has targeted two high-profile exchanges, Binance.US and Coinbase, in the first week of month, the start of legal proceedings against they for alleged violations of Securities laws.

According to the company, individual investors will remain The latter was not affected decision to suspend institutional services in United State. Crypto.com has confirmed that retail investors will continue to be full access to the platform, including its availability of Crypto.com’s regulated UpDown options.

when one market closes, another opens

despite of announcement of Crypto.com has participated in leaving institutional service in the United States more promising news .in the end of May.

Crypto.com revealed a file plans to list euro as a trading option. this move It aims to take advantage of liquidity of euro and provide users with the ability to trade cipher kit assetsincluded bitcoin (BTC), ethereum (ETH), and USDT, against euro.

By entering the euro cryptocurrency trading pairs, Crypto.com will enable its users to deposit easily, tradeSupported cryptocurrency withdrawals using The euro as the base currency.

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