{"id":83024,"date":"2023-08-14T17:02:56","date_gmt":"2023-08-14T14:02:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83024"},"modified":"2025-09-12T08:33:57","modified_gmt":"2025-09-12T05:33:57","slug":"txbit-crypto-exchange-to-cease-operations-amid-unfavourable-market-conditions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/txbit-crypto-exchange-to-cease-operations-amid-unfavourable-market-conditions\/","title":{"rendered":"Txbit crypto exchange to cease operations amid unfavourable market conditions"},"content":{"rendered":"<p>The Netherlands-based cryptocurrency exchange Txbit <a href=\\\"https:\/\/txbit.io\/\\\">said<\/a> it would cease trading and wind down its operations on September 14.<\/p>\n<p>\\n\\n<\/p>\n<p>The firm cited uncertain regulatory conditions and \u201cunfavourable changes in the market\u201d that have made profitability harder.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<\/p>\n<p><em>\u201cAs compliance costs rise and margins on our products come under sustained pressure, continuing to operate as before has become untenable,\u201d<\/em> the statement said.<\/p>\n<p>\\n<\/p><\/blockquote>\n<p>\\n\\n<\/p>\n<p>As of the time of writing, Txbit&#8217;s website was temporarily unavailable. The company said it had cancelled open orders and halted trading. Withdrawal of funds is expected to resume thereafter.<\/p>\n<p>\\n\\n<\/p>\n<div class=\\\"wp-block-image\\\">\\n<\/p>\n<figure class=\\\"aligncenter size-full\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/image-506.webp\\\" alt=\\\"image-506\\\" class=\\\"wp-image-213562\\\"\/><figcaption class=\\\"wp-element-caption\\\">Source: <a href=\\\"https:\/\/txbit.io\/\\\">Txbit<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<\/p>\n<p><em>\u201cWe strongly urge all our clients to withdraw their funds by 12:00 UTC on 14 September 2023. After that time, it will be impossible to return any funds,\u201d<\/em> warned the platform&#8217;s management.<\/p>\n<p>\\n<\/p><\/blockquote>\n<p>\\n\\n<\/p>\n<p>The team noted that, due to a likely queue for withdrawals, processing of requests may take time, in part due to <span data-descr=\\\"Know Your Customer\\\" class=\\\"old_tooltip\\\">KYC<\/span> processes.<\/p>\n<p>\\n\\n<\/p>\n<p>In March 2023, the Netherlands Authority for the Financial Markets said it intended to <a href=\"https:\/\/forklog.com\/en\/news\/netherlands-signals-tough-stance-on-mica-enforcement\">take a hard line<\/a> in enforcing the EU&#8217;s new rules on cryptocurrencies.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier in June 2023, Binance announced that it would <a href=\"https:\/\/forklog.com\/en\/news\/binance-to-exit-the-netherlands\">leave the Netherlands jurisdiction<\/a> after failing to obtain a license to operate as a virtual asset service provider from the local regulator.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Netherlands-based cryptocurrency exchange Txbit said it would cease trading and wind down its operations on September 14.<\/p>\n","protected":false},"author":1,"featured_media":83025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,718,36],"class_list":["post-83024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-netherlands","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83024"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83024\/revisions"}],"predecessor-version":[{"id":83026,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83024\/revisions\/83026"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83025"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}