GO.Exchange Crypto Trading Platform to Shut Down Mid-March, Will This Affect OmiseGO (OMG)

2020-1-31 16:45

On 30th January 2020, Go.Exchange, cryptocurrency trading platform announced that it was winding down its operations. According to the statement sent out to news outlets, this is a decision that was arrived at after realizing that regulatory requirements had begun to take a toll on its operations.

Closing the exchange was a difficult decision to make. Thanks to everyone who supported us. It was a great ride. You can find the full announcement here.https://t.co/inCg9Eup87

— GO.Exchange (@GOExchangeHQ) January 30, 2020

Go.Exchange is an Omise Holdings subsidiary, a financial services company based in Thailand. This is the company that is behind the creation of the OMG (OmiseGO) cryptocurrency. The statement went on to read that moving forward, the exchange platform would no longer be allowing trades to occur or accepting new clients.

The only transactions that would go on unrestricted would be the client withdrawals. Details included in the official statement indicates that clients have up to the 15th of March 2020 to withdraw all their available funds.

Uncertainty and Regulatory Challenges

According to the Go.Exchange team, the main reason why they decided to close shop was due to uncertainty and regulatory complexities. These factors combined had a huge impact on the cost/benefit analysis ratio making it difficult for the team to continue operating the exchange.

The Go.Exchange was introduced into the public domain in March 2019. The exchange launched with the sole purpose of providing a platform that was fully compliant with existing regulations, secure, and sustainable. The license to begin its operations was filed in the Malta jurisdiction. However, it appears now that the regulatory hurdles eventually have become too much for the team.

OmiseGO

This is a PoS (proof of stake) company that was launched with the sole aim of providing different types of financial services. The company conducted an ICO (Initial Coin Offering) in July 2017 for OmiseGO and managed to raise a total of twenty-five million dollars. In August of the same year, OmiseGO was able to obtain a formal endorsement from the Ministry of Finance in Thailand.

Nonetheless, things have not been smooth sailing for the company as it saw its token prices flat line in 2019. The token is currently trading at $0.86, which is a ninety-seven percent decline from its highest trading price of twenty-five dollars. It should, therefore, not come as a surprise that the project has started to run out of funds.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Sharpe Platform Token (SHP) на Currencies.ru

$ 0.0004599 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0004599 - H: $0.0004599
Капитализация $8.007k Rank 99999
Доступно / Всего 17.41m SHP

exchange operations decision down platform trading outlets

Источник: bitcoinexchangeguide.com

exchange operations → Результатов: 126


Bitcoin wouldn’t meet the criteria for SDX’s platform, claims SIX’s Securities and Exchanges Head

Lately, the digital asset space has witnessed a rising number of institutional giants leveraging cryptocurrencies or its underlying blockchain technology for its operations. One such institutional giant is SIX, Switzerland’s stock exchange, which, in an attempt to digitize traditional assets, announced its plan to issue a native token on its platform.

2019-5-7 22:30


Фото:

Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means

The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million.

2019-4-27 01:30


Bitcoin SV [BSV]: Calvin Ayre-backed Coingeek article claims Binance is involved in ‘criminal operations’

Bitcoin SV [BSV], the BCH hardfork, and Binance, the largest cryptocurrency exchange in the world, have been at loggerheads since the exchange delisted Satoshi’s Vision last week. It looks like their dispute isn’t over yet, with Coingeek, the BSV mouthpiece, reporting that Binance plays a part in “criminal operations,” citing several sources.

2019-4-25 02:00


Kraken: Former Trading Desk manager sues exchange for $1 million alleging flawed New York operations

Kraken, one of the most notable US-based cryptocurrency exchanges has found itself in legal trouble with a former employee. Jonathan Silverman, who served as a manager in the exchange’s New York office has alleged that Kraken had not paid him for his work and that the exchange tabled misinformation about their operations in the state.

2019-4-8 11:00


Coindelta Becomes the Latest Victim of India’s Bitcoin Ban

Coindelta, an Indian cryptocurrency exchange platform, has announced its decision to cease operations in the country, citing operational difficulties. The platform published a blog post on its Medium account at the end of March 2019, blaming the Reserve Bank of India (RBI) ban on exchanges maintaining accounts with Indian commercial banks as the reason forRead More

2019-4-1 19:00


Buzzex Global Crypto Exchange Announces Start of Trading Operations

Bitcoin Press Release: UK-based crypto exchange platform Buzzex has just announced the start of trading on its’ platform, alongside many developments, competitions, and programs. Friday 29th March, 2019, London, United Kingdom – Buzzex is a new secure digital asset trading platform, built by a group of traders and cryptocurrency enthusiasts, which boasts some unique features.

2019-4-1 10:20


Indian crypto exchange WazirX offers refund on withdrawal fees for users moving from Coindelta

Coindelta joins the list of crypto exchanges shutting down in India, owing to the lack of regulations and the ongoing Reserve Bank of India [RBI] ban on crypto transactions. Coindelta ceased operations on 30 March at 2 pm IST, announcing the same via a blog, “It has been really difficult for us to operate Coindelta exchange […] The post Indian crypto exchange WazirX offers refund on withdrawal fees for users moving from Coindelta appeared first on AMBCrypto.

2019-3-31 20:00


Buzzex Global Crypto Exchange Announces Start of Trading Operations

Bitcoin Press Release: UK-based crypto exchange platform Buzzex has just announced the start of trading on its’ platform, alongside many developments, competitions, and programs. Friday 29th March, 2019, London, United Kingdom – Buzzex is a new secure digital asset trading platform, built by a group of traders and cryptocurrency enthusiasts, which boasts some unique features.

2019-3-30 08:26


Фото:

Finland’s Regulatory Watchdog Plans to Supervise Localbitcoins Operations

On Monday, the Helsinki-based peer-to-peer crypto exchange Localbitcoins announced it is adding several different identification processes in order to improve AML and KYC requirements. The move to bolster the new customer verification procedure follows Finland’s Financial Supervisory Authority (FSA) mandating supervision over exchange operations.

2019-3-27 03:58


Gatecoin Cryptocurrency Exchange Calls It Quits After Six Years And $2 Million Hack

Gatecoin Cryptocurrency Exchange Calls It Quits After Six Years. Gatecoin, a Hong Kong-based cryptocurrency exchanged founded in 2013 by Aurelien Menant, a former investment banking expert, has announced it is now bankrupt and would end operations with immediate effect, according to a statement by the firm on March 14, 2019. End Of The Road For […]

2019-3-15 23:22


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru