Crypto.com to Suspend Service for US Institutional Clients

Crypto exchange Crypto.com announced that it will stop offering service to institutional clients in the US, effective June 21st.

According to the platform, the reason for the decision is the limited demand from institutional clients in the current market landscape. Retail investors in the US will not be affected, who can still use the services on the platform.

This week, the US Securities and Exchange Commission (SEC) sued Binance and Coinbase. There are voices within the crypto community that Crypto.com might be the next target of the SEC's enforcement action against crypto exchanges.