Centralised cryptocurrency exchange Crypto.com has announced that it will stop serving institutional customers in the US from June 21, explaining that there is insufficient market demand and regulatory conditions in the country.
Before the announcement, investors had been warned that such a suspension could occur. The institution reserves the right to potentially resume such offerings at some point in the future.
The mobile app and retail platform will remain fully operational. Customers using the UpDown Options product, which gives them the opportunity to make money from price fluctuations in several digital assets, will also retain access to it.
Crypto.com recently successfully passed a 12-month pre-licensing testing period and received approval to operate in Singapore.