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Earlier, the local regulator also issued a ruling that the firm’s activities in the country are illegal

As part of it, the US arm will share details about its business expenses

The exchange is suspected of failing to comply with KYC procedures to prevent its use for money laundering

According to the news agency, about 50 employees left the company during a series of layoffs

The issue fee was $2,63

Previously, such a situation on the crypto market was observed in the spring of 2020 during the COVID-19 pandemic

In March, the exchange volume was $17,6 million, in April was $15,2 billion, and in May was $5,9 billion

Experts analyzed investor behavior between June 5 and June 12

According to the court’s decision, the crypto exchange can continue operating as usual

Changpeng Zhao called these statements unfounded

The platform’s representatives called the Commission’s demand “draconian and unduly burdensome”

The exchange swapped 750 million USDT of the TRC-20 standard for ERC-20 stablecoins