In a significant development for the crypto community, Txbit, the Netherlands-based cryptocurrency exchange, has announced its decision to halt trading and close down its operations starting from September 14th. This move comes as the exchange navigates uncertain regulatory conditions and unfavorable shifts in the market.
The company shared that escalating compliance expenses and continuous pressure on profit margins have made it unfeasible to continue business as usual. As a result, Txbit has taken the difficult step to wind down its operations.
Txbit users are advised to take action promptly. The platform’s website is currently undergoing maintenance, and users are urged to withdraw their funds before September 14th, as any funds remaining after that date will be inaccessible.
Due to the anticipated influx of withdrawal requests, please expect potential delays in processing, including necessary KYC procedures – Txbit Team
Read More: CoinDesk Takes Measures Ahead of Sale: Cuts Staff by 45%
Read More: Crypto Fund Inflows Rebound
