CoinEx Closes After Nine Years Amid Market Downturn and Regulatory Pressure

Crypto exchange CoinEx is shutting down after nine years of operation due to a prolonged market downturn, weaker trading activity, and growing pressure from regulation and compliance obligations.

The Seychelles-based platform will stop taking new registrations on September 15th and plans to discontinue most exchange services by September 29th. Withdrawals will remain available until December 22nd, giving users nearly three months after the main shutdown to remove their assets.

CoinEx attributed its decision partly to a tougher regulatory environment and rising compliance costs. Founder and CEO Haipo Yang said the risks involved in operating a crypto trading platform had become increasingly difficult to manage.

Yang acknowledged that CoinEx had fallen short of his original ambitions despite serving millions of users over its nine-year history. He prioritized ensuring customers could recover all their holdings while providing employees with a dignified departure.