Slams The Door On US Institutional Clients: A Retreat Or A Rebellion?

Zinger Key Points
  • Subdued demand cited as reason.
  • Future re-establishment of institutional exchange possible.

Singapore-based cryptocurrency exchange announced on Friday its decision to suspend services for institutional clients in the U.S. beginning June 21.

The suspension is attributed to subdued demand among institutional clients, which has been further exacerbated by the prevailing challenges in the market.

In a statement released by, it was emphasized that institutional clients were informed well in advance regarding the suspension and that the exchange’s retail mobile application and platform continue to be functional for users in the U.S.

Also Read: Cardano And Solana Counterattack Against SEC's Classification Of Cryptocurrencies As Securities

American retail consumers continue to have access to cryptocurrency derivatives trading, which is regulated by the Commodity Futures Trading Commission, along with the UpDown Options. The latter is a service that empowers users to take long or short trading positions based on the anticipated fluctuations in the value of various cryptocurrencies.

Additionally, while suspending its institutional services in the U.S., is not ruling out the possibility of a future re-establishment of its institutional exchange within the country.

Meanwhile, was recently granted a significant payment institution license for digital payment token services by the Monetary Authority of Singapore (MAS).

This license enables to continue offering its services within Singapore.

Read Next: OKX Ignites A Financial Inferno: Torches $258M In Tokens

Photo: Shutterstock

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Posted In: CryptocurrencyNewsSector ETFsGlobalSECMarketsETFsBinance.USCFTCCrypto.comCryptocurrency ExchangeDigital PaymentsMonetary Authority of Singaporesecurities lawsUS institutional clients
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