Unbanked Cryptocurrency Platform Shuts Down Due to Harsh US Regulations
05/26 01:15
Unbanked, a cryptocurrency card and trading platform, announced on May 25th that it will be shutting down its services due to strict U.S. regulations. The company stated that regulatory efforts limited its ability to raise capital and expand its operations, despite recently signing a term sheet for a $5 million investment. Unbanked advised all customers to withdraw their cryptocurrency and U.S. dollar balances immediately, leaving withdrawals open for 30 days. This closure puts Unbanked in the company of other small crypto companies that have recently shut down.
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