Romania’s First Bitcoin Exchange Shuts Down after Bank Accounts Closure
Romania’s oldest bitcoin exchange, BTCxChange, has announced it is shutting down the platform starting May 1.
Earlier this week, the startup owned by Max Nicula, issued a statement advising customers to withdraw all their remaining balances from the platform before May 1st. The company had earlier suspended its operations following the shutdown of its account by national banks in early February.
“Operations stopped back on 1st of February but you still could stock your bitcoins on our platform. Please withdraw all your balances before the 1st of May,” the statement read.
The platform has had a jagged path. Less than a year after its launch, operations were suspended following a disagreement among the team. Business reopened again after the previous owner Horea Vuscan retired and the platform was then taken over by Nicula.
The recent events can only comfirm what many in the industrial space are calling a crackdown on cryptocurrencies by financial institutions, as national banks are now assuming the responsibilities of financial regulators.
Nicula could not immediately be reached for comment. He appears to be currently residing in London, having moved from Chisinau.
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