The South Korean cryptocurrency exchange Cashierest will terminate its virtual asset brokerage business

2023-11-06 12:00:41

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ChainCatcher news, according to News1, the South Korean cryptocurrency exchange Cashierest has announced the termination of its virtual asset brokerage business. Deposit and member registration services will cease on the same day, and token trading will end on the 13th. Users can withdraw their cryptocurrencies to other exchanges until December 22.

It is reported that the former CEO of the exchange, Park Won-jun, resigned in July, which sparked rumors of the exchange seeking a sale due to the platform only supporting coin market trading and having extremely low trading volume.

According to an investigation by the Financial Intelligence Unit (FIU) of South Korea into cryptocurrency business operators, as of the first half of this year, 18 out of 21 coin market exchanges were in a state of complete capital depletion.

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