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Crypto.com to Halt US Institutional Exchange Offering; retail users unaffected

Crypto.com will soon end US access to its institutional exchange, according to a company statement. June 9,

That statement said the decision was taken due to limited demand in that market. Crypto.com said that the institutional exchange will remain available outside the US and that it will consider resuming US service in the future.

The change will go into effect on June 21, 2023 at 11:59 p.m. EDT, the firm said. It added that advance notice was given to institutional users.

Service change will not affect retail users

Crypto.com emphasized that this change does not affect retail users, who have access to the company’s retail exchanges, wallets, and other services. It noted that its derivatives product, Updown Options, will continue to be available to retail users as well.

The company said that its Recent Partnership with Coinrootswhich aims to provide better institutional access to liquidity, remains in effect.

Crypto.com’s service reduction announcement follows a lawsuit from the US Securities and Exchange Commission against competing exchanges Coinbase and Binance earlier this week.

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