Cryptocurrency platform EXMO officially declared the failure of the public phase of the ICO, explaining this decision by the fact that it has enough funds to ensure Fund margin lending and launch new products and services.
“Given the tougher regulation by financial and Supervisory authorities in the field of ICO and cryptocurrency, EXMO cannot guarantee the absence of unexpected changes in the legal field, which in turn may entail risks for our investors. This situation is unacceptable for us” added the co-founder of the platform Ivan Petrovsky.
Recall that in the EXMO planned to start krausel EXO 26 February, but before this date, the exchange announced the postponement of the meeting on 26 April-26 may 2018 due to excessive excitement on the part of potential investors. In March due to a “sudden and unpredictable changes in the regulation of cryptocurrencies,” the exchange decided to postpone the beginning of krautsalat on 10 September 2018. According to the company, raised funds thus expected to spend on the implementation of the margin loans, the creation of the insurance Fund and obtain necessary licenses.