Korean Exchange Zeniex Closes After Only Six Months

The small-scale, relatively new Zeniex exchange ceased operations after discontinuing the ZXG token. The exchange decided to close shop, citing regulatory hurdles. Zeniex issued Ethereum (ETH) compensation on November 12, which was also the deadline to withdraw other coins and tokens on the exchange.

Zeniex was a small-scale exchange, but its withdrawal from the markets underlines two trends – namely lower demand for cryptocurrency speculation in South Korea as well as stricter regulations on issuing tokens. A Korean trader pointed out that the entire market has suffered a slowdown:

https://twitter.com/seogree1010/status/1064417531878764549

This article appeared first on Cryptovest

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