Cryptocurrency exchange Luno will cease operations in Singapore starting in June

ChainCatcher news, DGG's cryptocurrency exchange Luno announced that it will cease operations in Singapore starting from June 20, 2023. However, this decision will not affect its business in Malaysia.

Luno stated that this move is part of a "regular assessment of its global strategy and presence." All Luno accounts belonging to Singapore customers will be closed before June 20 of this year, and users need to withdraw all cryptocurrencies or Singapore dollars from their Luno wallets by June 19. If users fail to withdraw their held cryptocurrencies by June 19, these cryptocurrencies will be sold at the current market price and stored in Singapore dollars, with sales subject to Luno's existing 0.75% instant trading fee. (Source link)