FXChoice to Stop New Crypto Deposits on 12 December Under FSC Restriction
FXChoice said the FSC, its regulator and licence issuer, has barred it from accepting crypto deposits or issuing crypto withdrawals starting next year. The broker will stop accepting new crypto deposits on 12 December and strongly recommends clients withdraw crypto account or wallet funds before 26 December.
View original sourceDeposit cutoff and withdrawal recommendation
FXChoice said it will stop accepting new crypto deposits from 12 December. It said crypto withdrawals will soon become unavailable and that exchanging crypto for traditional currencies, or traditional currencies for crypto, is also going away. Clients with funds in crypto accounts or wallets at FXChoice can sign in to my.myfxchoice.com, check balances on all Live accounts and Wallets, and use Withdrawal to claim funds; the company strongly recommends doing so before 26 December.
Regulatory basis
The announcement attributes the change to the FSC, which it describes as FXChoice's regulator and licence issuer. According to FXChoice, the FSC has barred the company from accepting deposits or issuing withdrawals in crypto starting next year. The notice gives no exact start date beyond next year for that bar, nor a date for when crypto withdrawals or crypto exchange will end.
Company apology and support
FXChoice apologised to clients for the inconvenience the restrictions will cause. It directed clients with questions or needing help to contact the company through channels listed on its site, including live chat, email and its ticketing system.
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