Crypto.com Winding Down U.S. Institutional Business
The move won't affect the company's retail operations.
Singapore-based crypto exchange Crypto.com will no longer be offering its services to institutional clients in the U.S., effective June 21, the company announced Friday.
The exchange cited "limited demand" from institutional customers in light of the "current market landscape."
Retail investors will not be impacted by this decision, said the firm, and will continue to be able to use the platform in the U.S., including Crypto.com's CFTC-regulated UpDown Options.
The decision comes in the same week as crypto exchanges Binance and Coinbase were sued by the U.S. Securities and Exchange Commission (SEC) on allegations that they have violated securities laws.
Edited by Stephen Alpher.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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