RATE Group | London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation
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London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation

09 Feb London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation

Posted at 15:32h in Cryptocurrency News by

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London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation

London-based cryptocurrency exchange LBX is the latest digital asset trading venue to face critical difficulties and is now being liquidated. Despite rising crypto prices, which typically lead to an influx of new traders, some regulated exchanges have struggled to survive amidst rising legal fees, compliance costs, and other overheads.

Also Read: Crypto Winter Claims Another Victim as DX Exchange Closes

LBX Placed Into Compulsory Liquidation

Dragon Payments Limited, formerly known as London Block Exchange Limited and trading as LBX, has been placed into compulsory liquidation following a winding up order that was made against the company on January 31, 2020. This is a legal term for when someone applies to the court in the U.K. asking to close down a company if it cannot pay its debts.

According to a notice that replaced the platform’s front page, Paul Cooper and Paul Appleton, both of David Rubin & Partners, were appointed joint liquidators of LBX…

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