According to a statement dated November 21, the Aphelion platform has closed its decentralized exchange. The reason for its closure is the recent statements by the US financial authorities, the US Securities and Exchange Commission (SEC), on the prohibition of centralized or decentralized exchanges of cryptocurrencies that do not register the identities of their users. They must follow KYC-AML compliance regulations.
People who still have funds within the Aphelion exchange platform should withdraw their funds as soon as possible, although the announcement indicates that the funds not manually withdrawn will be automatically withdrawn on November 23.
The intention of the company is to find solutions to enable the exchange platform as soon as possible. Among the possible solutions are the alliance with an entity that is already legalized by the SEC to operate with cryptocurrencies as Coinbase did recently or the implementation of KYC-AML regulations required by the SEC.
The Aphelion wallet will continue to operate and the company will put the exchange back into operation if it finds a viable solution to the current problem.
Immediately upon hearing this news, the price of Aphelion shares plummeted from the range of 0.04-0.05 $ that was recently traded at the current price of 0.01 $, a drop in the last hours of 68%.
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