A small South Korean cryptocurrency exchange Zeniex announced the termination after the financial authorities of the country began to deal with unauthorized cryptopodum.
Launched in may, the exchange has decided to completely stop working after the beginning of the investigation of the regulator in relation to cryptocurrency Crypto Zxg Fund Fund No. 1 (ZXG), which she created in September.
“With the recent issues regarding ZXG we had a serious discussion of both internal and external. As a result, we came to the conclusion that to continue to manage this service will be hard. We regret to inform that the provision of the services will be terminated Zeniex 23 Nov 2018”, — said the crypto currency exchange.
Users of the trading platform Zeniex the company warned about the need to withdraw all their funds prior to November 23. ZXG ceased trading from 9 November to 12 November, the exchange and its partner, Genesis Capital has promised to return investors money.
Despite the fact that cryptocurrency Fund had traded abroad, Zeniex decided that I will not be able to carry out its work because of the actions of the regulator.
“Due to recent problems, we believe that ZcrG Crypto Fund No. 1 will have difficulty with trouble-free operati work under such pressure from the financial authorities”, — said Zeniex.
As reported by local media, ZXG, claimed as “the first Fund of Korea,” drew the attention of the controller immediately after starting. The financial services Commission (FSC) concluded that the Foundation had violated the Law on capital markets, and launched an investigation against ZXG and the company.
Recall that despite the tightening with the beginning of the year FSC policy in relation to crypotologic platforms, some of the crypto currency exchange, for example, or BTCC Huobi decided to work in South Korea. Recently, the FSC head said that the platform cryptocurrency trading has implemented the necessary decisions on KYC and AML should not experience difficulties in banking services in the country.