CoinEx says it is closing, citing downturn and rising compliance costs

Crypto exchange CoinEx is shutting down, citing a lengthy market downturn and rising compliance costs. The closure comes less than three months after a WSJ report said over $3B moved through the exchange since 2019 for Iran-linked wallets.

• CoinEx announced it is ceasing operations
• Reasons: lengthy downturn and rising compliance costs
• WSJ: $3B+ moved through the exchange for Iran-linked wallets
• Closure came less than three months after the WSJ report