Coinjie News: Coinmetro, a cryptocurrency exchange headquartered in Estonia, announced that it has submitted a restructuring application to a local court and has suspended user registration, deposits, and withdrawals since June 22. The company attributed this crisis to failures by its financial service provider, but CEO Kevin Murcko revealed in a subsequent livestream that more than one provider was involved, and that the related internal investigation has been ongoing for years. The crisis is believed to be related to the deadline of July 1 for applying for MiCA compliance licenses. In addition, last year, the bankruptcy liquidator of Prime Trust filed a lawsuit against Coinmetro in an attempt to recover approximately $1.2 million in funds transferred to Coinmetro on the eve of Prime Trust’s collapse. Coinmetro’s annual report is currently overdue, and the company has tax debts.

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LighthouseInTheMist
· 1h ago
MiCA deadline on July 1, business suspended on June 22, the timing is too spot on.
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DepegDaydream
· 2h ago
From the Prime Trust lawsuit to MiCA compliance, Coinmetro has quite a few landmines buried.
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CheckingEthInTheElevator
· 2h ago
Annual report overdue + tax debt, restructuring is probably a temporary stopgap.
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BluePeonyPrincipalProtection
· 2h ago
Financial service provider failure? I've heard that excuse a thousand times.
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