AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed
Automated payouts are paused after a failed liquidity deal, leaving customers without assurances on timing or amounts. The post AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed appeared first on CryptoSlate....
Key takeaways
- 1AscendEX shut down July 1 and paused automated withdrawals July 6 due to failed liquidity deal and missing EU MiCA authorization.
- 2Manual review now required for all withdrawals with no guaranteed payment dates or assurance of full balance recovery.
- 3Exchange disclosed insufficient financial information; customers face creditor risk if formal insolvency proceedings begin.
Why it matters
This signals regulatory enforcement of EU's MiCA framework, forcing exchanges to exit or comply. Indian investors using offshore exchanges should verify regulatory status and withdrawal feasibility amid global crypto compliance tightening.
Related stories
Circle (CRCL) Wins Final OCC Approval for National Trust Bank
Bitcoin Magazine Circle (CRCL) Wins Final OCC Approval for National Trust Bank Circle won final OCC approval to establish a national trust bank, allowing it to place USDC reserves under federal oversight and expanding its regulated digital asset custody business. This post Circle (CRCL) Wins Final OCC Approval for National Trust Bank first appeared on Bitcoi...
Trump Won't Sign Housing Bill With CBDC Ban—Will It Become Law Tonight Anyway?
Trump refuses to sign a housing bill containing a CBDC ban, but Congress may pass it anyway tonight. The move signals crypto-friendly policy under his administration while raising questions about whether lawmakers will override his position. Bitcoin holds above $63,900 as markets digest regulatory uncertainty. India's crypto community watches potential US policy shifts that could influence domestic regulation.
Circle Stock Jumps as Stablecoin Issuer Wins Final Federal Banking Charter Approval
Circle secured final OCC approval to establish a national trust bank, shifting its $73.2 billion stablecoin to a unified federal framework....