The encryption exchange AscendEX announced that it had ceased operations on 1 July

The encryption exchange AscendEX issued a bulletin stating that the platform had officially ceased all operations on 1 July 2026. The decision was taken in a combination of factors: the European Union Encrypted Asset Market Regulation Act (MiCA), which came into full effect on 1 July 2026, did not obtain a licence to operate under the Act, and took into account a combination of regulatory policies, the financial status of the Platform and the realities at the operational level across the globe. Users are no longer in a position to open new accounts, fill assets, transactions, currency exchange, pledge management, borrowing, or participate in the promotion of returns, platform activities and other encryption-related operations. Subject to the proper functioning of the system and the absence of relevant laws or insolvency restrictions, the account retains only a limited number of exit-type functional access points, including the submission of a cashier ' s application, the updating of authentication information on physical names, the submission of complaints, the provision of advisory services and the export of transaction records. Discounting operations deal with matters that are independent of the above-mentioned licence plates. With effect from 6 July 2026, all cash withdrawal applications were processed manually and the automated cash withdrawal route was completely suspended. At the same time, the Platform is unable to guarantee the processing time of the user ' s request or the amount of cash withdrawals that can eventually be processed。