- Crypto.com will suspend exchange services for U.S. institutional clients.
- The suspension will take effect on June 21.
Crypto.com, the Singapore-based crypto exchange, will suspend exchange services for U.S. institutional clients. This suspension will take effect on June 21. The exchange added that the decision would not affect retail investors.
Crypto.com’s decision to suspend the services comes in the same week as the U.S. Securities and Exchange Commission filed a lawsuit against the top crypto exchanges, Binance and Coinbase.
The E mentioned that the decision was made because of the limited demand of institutional clients in light of the current market landscape. Moreover, the exchange also notified its institutional users in advance of the suspension decision.
According to the report, Crypto.com’s mobile application and platform remain operated in the U.S. Retail users continue to have access to the platform, including Crypto.com’s C-regulated UpDown Options. This allows users to have long- or short-trading options on the future movements of several cryptocurrencies.
