Australia’s leading cryptocurrency exchange Swyftx has announced that it will end its “Earn” program, which functions as crypto interest, due to a lack of regulatory clarity.
swiftxciting uncertainty in regulatory clarity in the cryptocurrency market Earn decided to close the program. In a statement made by the stock market January 10 It was stated that services related to the program will be terminated as of this date. However, users’ Earn balances will be automatically returned to their spot wallets.
In the statement made by the Exchange, it was stated that the expectations regarding the “Earn” program were not lost and that when laws become clearer It was stated that they would consider reopening the program:
We know that the decision can be disappointing for users. While we believe in the value and potential of cryptocurrency, what we need right now is more clarity on the regulation of crypto offerings like Earn. We hope to reopen the program once Australia sets the rules regarding crypto interest products.
This decision of Swyftx is in line with Australian regulatory authorities. crypto interest products It was taken after the remarkable decisions he made in the last period. The company that conducted world-class research last month Finderto the subsidiary of unlicensed cryptocurrency products for offering Australian Securities and Investment Commission (ASIC) lawsuit was filed.
On the other hand, between Swyftx and pension fund company Superhero. 1 billion dollars The deal was similarly done last month. anti-crypto regulations and declining demand was terminated due to