Crypto exchange Luno, part of the Digital Currency Group (DCG), plans to end its Singapore operations.
One of the most important actors of the events that marked the last year was DCG. DCG engaged in legal and financial struggles for the crackdowns in its subsidiaries. Concentrating on the problems on platforms such as Grayscale and Genesis, news began to fall from another platform of DCG.
Crypto exchange Luno, part of DCG, is considering withdrawing from the Singapore market and revoking its license in the city-state.
DCG’s Crypto Exchange Focused On Withdrawal From Singapore
Digital Currency Group (DCG), whose name is frequently mentioned in the Gemini and Genesis chain of events, is preparing to make a move for its crypto exchange Luno.
Luno, which is part of DCG, will not be available in Singapore from June 20. The exchange, which published a blog post the other day, stated that it no longer requested permission from the Monetary Authority of Singapore and decided to withdraw.
Stating that he evaluated global strategies, Luno reminded that Singaporean customers should withdraw their assets from the stock market until 19 June.
In addition, Luno noted that Singapore has the potential to become a crypto hub and provide financial exchange.
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