RATE Group | South Korean cryptocurrency exchange comes to a halt
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South Korean cryptocurrency exchange comes to a halt

23 Aug South Korean cryptocurrency exchange comes to a halt

Posted at 06:09h in Cryptocurrency News by

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South Korean cryptocurrency exchange, Prixbit, has official bid adieu to the cryptocurrency markets.

On its official website post dated Aug 09, the South Korean regulated exchange platform had indicated that it will cease its cryptocurrency trading activities in view of financial hurdles and investor concerns regarding their deposits. As soon as the news broke, several traders flocked to the website for withdrawing their holdings. 

The news comes following a startling revelation by a report that over ninety seven percent (97%) of South Korean cryptocurrency exchange platforms, that is close to two hundred exchange businesses, are battling against monetary crisis and low consumer demands. Many of which, during their relentless struggle to keep their heads above the water, are going into liquidation.

On what is being viewed as a chain reaction to the region’s tightening of regulatory reforms concerning the cryptocurrency industry and the malpractices involved in it, several exchange…

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