The cryptocurrency exchange CoinEx will close access to its services for US customers due to regulatory difficulties. CryptoSlate reports this, citing an email to platform users.
“We regret that CoinEx will no longer be able to provide services to citizens or residents of the United States due to regulatory requirements,” the company said in a letter.
According to the publication, the exchange asked American users to withdraw their assets by April 24. After that date CoinEx will begin “gradually block the corresponding accounts.”
ForkLog contacted CoinEx for comment but had not received a response at the time of writing.
On February 22, New York Attorney General Letitia James filed suit against the platform, accusing it of illegal conduct—operating without registration in the state.
I’m suing cryptocurrency platform @coinexcom for illegally operating in New York without registering with the state.
⏰Wake-up call: crypto platforms must play by the same set of rules as everyone else.
— NY AG James (@NewYorkStateAG) February 22, 2023
“Crypto platforms must play by the same rules as everyone else. When crypto companies ignore our laws, they put New Yorkers at risk,” she wrote.
Earlier in February, the bitcoin exchange Kraken agreed to shut down its staking program for US users and pay $30 million as a fine.
From April 1, the crypto-lending platform Nexo will discontinue offering the Earn Interest Product to US investors.