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Crypto.com Suspends Institutional Service in the US Due to Limited Demand and Market Conditions

Crypto.com has announced that it will suspend its institutional service in the United States from June 21 due to limited demand and testing market conditions. The platform's retail mobile application and platform will remain operational in the US, and American retail users will still have access to CFTC-regulated cryptocurrency derivatives trading. While Crypto.com remains open to a potential relaunch of its institutional exchange in the US, it recently received an official major payment institution license for digital payment token services in Singapore. The SEC's legal proceedings against Binance.US and Coinbase have caused criticism from the wider cryptocurrency ecosystem.

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