Crypto.com, a Singapore-based cryptocurrency exchange, announced that it would not serve its United States-based clients, stated Cointelegraph. The service is expected to be closed from June 21, 2023.
Sources revealed that the move was taken due to the limited demand from the users as per the present market conditions. Crypto.com mentioned that a notice has been given to the users in advance, regarding the decision to suspend the service. Supposedly, Crypto.com’s retail mobile application and platform will still be available in the United States, Cointelegraph added.
As reported by Cointelegraph, Crypto.com is expected to relaunch its exchange services in the United States.
Furthermore, Crypto.com got an official major payment institution license for digital payment token services from the Monetary Authority of Singapore, which will allow it to offer its services in the country, Cointelegraph concluded.
(With insights from Cointelegraph)
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