Crypto exchange Danish, Denmark’s biggest exchange recently stated that it would not allow the cryptocurrencies like Bitcoin. The exchange delivered a platform for users to purchase and sell cryptocurrency using a credit card or a bank transfer but has been forced into bankruptcy. As per this exchange, it was forced to close its operations as there was an argument between the firm and a credit card vendor.
The exchange further stated that it was not sure about the corporation’s facility as the company’s liquidity is imprisoned by the credit card issuer concerned. If the funds are not released, the firm would not be able to function.
According to a lawyer working on the case, Niels Juul Mathiasen, this credit card seller has suspended the company’s liquidity and this is the reason why the firm ran out of money and was unable not continue its operations.
However, Crypto exchange Danish is sure that the problem will be determined and solved soon. It will be able to continue operating. The company’s CEO, Fredrik Grothe-Eberhardt, mentioned that the firm wishes to buy the website and regenerate the business in three months.
In April 2018, the major bank in the country, Danske Bank, has commended against crypto and even banned cryptocurrency investments. As per Computerworld, the bank stated that the cryptocurrency can’t offer the same protection offered by traditional currencies or investments, adding that there is a great absence of clarity regarding cryptocurrencies’ fundamental value and that the crypto ecosystem was just a financial crime and money laundering.
As per a report published in Coingeek, recently reports raised following a secret operation that banks through Europe including in Denmark where they had assisted customers to steal more than $60 billion. The crypto exchange Danish Wemovecoins was established in 2015. Subsequently, then they have provided clients to buy and sell bitcoin with a credit card or bank transfer.
The post Denmark’s Biggest Danish Crypto Exchange Closes Operation, Reports Bankruptcy appeared first on OWLT Market.
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