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Home›Crypto›Regulation›AscendEX shuts down after MiCA requirement miss

AscendEX shuts down after MiCA requirement miss

The exchange said automated payouts are paused after a failed liquidity deal, and it warned some withdrawals may not be processed.

Reported · Written up by our desk · Regulation

CryptoSlate reports that AscendEX has shut down after what it described as a MiCA-related miss.

The outlet says the platform told customers that automated payouts are paused following a failed liquidity deal, leaving users without assurances on when or whether funds will be paid out.

CryptoSlate further reports that AscendEX warned that some withdrawals may not be processed.

The shutdown comes as Hong Kong has set a one-year timeline for crypto platforms to replace certain one-time password requirements or cover user losses, according to the broader coverage referenced by CryptoSlate.

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Sources

CryptoSlateAscendEX shuts down after MiCA miss and warns some withdrawals may not be processed

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