Crypto Trading Firm Cumberland to Halt Trading in Filecoin with OTC Counterparties Due to Regulatory Precaution
05/31 18:15
Crypto trading firm Cumberland has announced that it will stop trading in the token used by decentralized storage platform Filecoin with its over-the-counter counterparties, effective from June 1 at 4 p.m. UTC. The firm cited the "regulatory environment" as the reason for the decision. All FIL trades entered into before the cut-off time will be settled in accordance with the usual procedures under the Master Purchase Agreement. The move comes amid increased regulatory scrutiny over crypto market participants in the U.S. and a pullback from some of Cumberland's competitors.
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