CoinEx will stop providing services to all American customers

It is reported that according to an email received by users, CoinEx will stop providing services to American users. Part of the message said, “Due to regulatory requirements, CoinEx can no longer provide services to US citizens or residents”.

Interpretation of this information:

The message states that CoinEx, a major digital currency exchange platform, will no longer be providing its services to US citizens or residents. This was reportedly sent through an email announcement to its users. The reason stated for this decision is regulatory requirements, which means that the cryptocurrency exchange platform may have encountered difficulties in complying with US regulations. As a result, CoinEx is terminating its services to users based in the United States in order to avoid regulatory sanctions.

The decision of CoinEx to withdraw its services from the US market could signify growing regulatory pressure on cryptocurrency exchanges to comply with stricter regulations in the country. As the cryptocurrency industry continues to gain popularity and expand worldwide, governments around the world are implementing more comprehensive regulatory measures to curb risks such as money laundering and other illegal activities that may be facilitated through the use of digital currencies.

In addition, cryptocurrency exchanges that are based in the United States are required to adhere to strict regulations under the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), both of which have been scrutinizing digital currency platforms in the past few years. The decision of CoinEx to cease providing its services to American users could indicate that it is facing pressure from regulators to comply with these rules.