Crypto.com shutting down U.S. institutional business.

Crypto.com, a Singapore-based cryptocurrency exchange, announced on Friday that it will no longer provide its services to institutional clients in the United States starting from June 21. The exchange stated that the reason for this decision was the “limited demand” from institutional customers due to the current market conditions. However, retail investors will not be affected and will still be able to use the platform, which includes Crypto.com’s CFTC-regulated UpDown Options.

This decision came in the same week that crypto exchanges Binance and Coinbase were sued by the U.S. Securities and Exchange Commission (SEC) for allegedly violating securities laws.

Edited by Stephen Alpher.

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