First Cryptocurrency Fund in South Korea Closes Amid Regulatory Pressure

[kreslik.news]

Zeniex, a minor South Korean cryptocurrency exchange which opened the country’s first cryptocurrency investment fund, is closing down as a result of the general government crackdown, according to Yonhap.

Unable to meet expectations

The exchange was first opened in May 2018, and has handled $410,000 worth of transactions in the last 24 hours, according to its website. The site lists an address in Seoul, but no team members are displayed.

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According to an official statement, it is closing its doors because “we have come to the conclusion that continuing to operate such service will be difficult.” ... (read more)