Taiwanese cryptocurrency exchange Rybit, following a penalty imposed by the Financial Supervisory Commission for violating anti-money laundering regulations last week, issued another announcement today (August 5). The platform will undergo a transformation and will suspend its existing personal user services starting from August 23, 2024. Rybit officials emphasized that user interests will be prioritized and that they will assist individual users in transferring their assets from Rybit accounts.
Rybit: Prioritizing User Interests
Sang Coin has confirmed this announcement with Rybit officials, who stated that as the ecosystem matures, Rybit needs to reassess future market supply and demand as well as new opportunities, consequently leading to the suspension of personal user services. Regarding users, officials stated: