Taiwanese cryptocurrency exchange Rybit, which was fined by the Financial Supervisory Commission (FSC) last week for violating anti-money laundering laws, announced today (8/5) that it will undergo a transformation and suspend its existing personal user platform services starting from August 23, 2024. Rybit officials emphasized that the interests of users will be given top priority and they will assist individual users in transferring their assets from their Rybit accounts.
Rybit: Prioritizing User Interests
Sangcoin has confirmed this announcement with Rybit officials, who stated that as the ecosystem matures, Rybit needs to reevaluate market supply and demand as well as new opportunities in the future, hence the suspension of personal user platform services.
Regarding users, officials stated:
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