Zeniex, a relatively unknown South Korean exchange, will close operations on November 23, the market operator announced. The closing of the exchange follows the retirement of the ZXG digital asset, an Ethereum-based token. ZXG token keepers turned in their holdings on November 12 for a refund.

ZXG was intended to be the key to an international crypto-investment fund. However, Zeniex discontinued the fund and the token, citing unfavorable regulatory conditions:

“ZXG was expected to be listed on crypto-exchanges overseas in order to continue the management of the fund. However, with recent developing issues, we believe that ZXG Crypto fund No 1. is and will have difficulties to operate smoothly with such current pressur…

This article appeared first on Cryptovest

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