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Cryptobridge to Shut Down After December 15

Cryptobridge to Shut Down After December 15

  • The official site further informs the users to withdraw their funds with a user verification as per EU law for all withdrawals.
  • The official site states that it will do all it can to help the users to complete all the legal formalities so as to ensure a quicker withdrawal.

CryptoBridge announces today that it is going to shut down the platform and terminating all the services and servers after December 15.

The official site though does not reveal much about the cause, points “unfavorable market conditions, increasing regulation and inability to fund further development” the reasons for the regretful step.

The official site says

Cryptobridge to Shut Down After December 15
                                                            Source : https://crypto-bridge.org/



 

 

 

 

 

 

 

The official site further informs the users to withdraw their funds with a user verification as per EU law for all withdrawals. The verification may take a longer time thus the users are to start the procedure earliest.

The site shows regret stating that it entered the market with a vision to create a direct link between the crypto asset traders and the users “to consistently provide superior service” but due to unfavorable market conditions they had to quit. The official site states that it will do all it can to help the users to complete all the legal formalities so as to ensure a quicker withdrawal.

The possible reason for this is the introduction of mandatory KYC policies which the customers found inappropriate assuming to be an attack on privacy. Coming up with user verification rules in October made the customers revolt as the policy came out of the blue and prohibited the continuation of deposits and withdrawals flow unless user verification criteria are completed.

About Steve Anderrson

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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