Crypto.com hires institutional exchange services in the USA

• crypto.com referred to a limited demand for services at an institutional level.
• The services will be discontinued from June 21st.
• The mobile retail application and platform from Crypto.com remain fully functional in the USA.

crypto.com has announced that it will stop his institutional exchange services in the United States from June 21 of this year. This means that the services of institutional customers no longer offer services in the United States.

While the majority of crypto actors are concerned about the ongoing crypto attack by the US stock exchange supervision SEC (Securities and Exchanges Commission), Crypto.com named the lack of institutional demand as the main reason for the decision, which was still tightened by market tests.

The stock exchange, however, remains open to the possible resumption of the exposed institutional stock exchange services in the United States if the market conditions change.

in the United States are still available for retail crypto services

According to an explanation of Crypto.com, institutional users of the platform were informed in advance that the service is hired. However, the stock exchange claims that your mobile retail application and platform in the USA is still fully functional.

In addition, CFTC-regulated trade in cryptocurrency derivatives of Crypto.com continues to have American private users, as well as the product updown options that enables users to open long or short trade positions for potential future movements of various cryptocurrencies.

crypto attack by the SEC in the USA

The month of June 2023 has proven to be the most turbulent in the history of the cryptocurrency exchanges in the United States. The Securities and Exchange Commission (SEC) initiated legal steps against Binance and Coinbase for various allegations, including violations of the securities laws.

The procedure of the SEC caused criticism in the larger cryptocurrency community, since the SEC apparently tightens its regulatory approach to the sector eight months after the fall of FTX.

While Crypto.com still has to be examined by the SEC, the stock exchange continued its worldwide expansion. The Monetary Authority of Singapore (MAS) recently issued an official license from a large payment institute (MPI) for digital payment services (DPT) so that the company can offer its services there, even if it closes its institutional offer in the USA.