<p>Global cryptocurrency company Luno has revealed plans to shutter its Singapore operations on June 20, 2023, following a &#8220;regular evaluation of its global strategy and presence.&#8221; This surprising announcement comes shortly after Luno co-founder Marcus Swanepoel stepped down as CEO, with former Chief Operating Officer James Lanigan taking the reins.</p>



<h2 id="luno-withdraws-license-application-assures-continuity-in-other-regions">Luno withdraws license application, assures continuity in other regions</h2>



<p>Luno has withdrawn its license application from the Monetary Authority of Singapore but has assured users that the decision will not impact its operations elsewhere. Singapore customers must withdraw all their cryptocurrency or SGD from their Luno wallet by June 19, 2023. All Singapore-based Luno accounts will be closed on June 20, preventing users from logging in and accessing their accounts.</p>



<p>Customers can transfer their crypto holdings to other reputable platforms or private wallets as needed.</p>



<h2 id="luno-to-charge-inactive-account-fee-for-unclaimed-funds">Luno to charge inactive account fee for unclaimed funds</h2>



<p>If a user fails to withdraw their crypto before June 19, 2023, Luno will sell it at the prevailing market price and convert it to SGD, with a spot buy/sell fee of 0.75% applied. Luno then reserves the right to charge a monthly Inactive Account Fee for holding SGD on behalf of users after this date. In a statement, Luno expressed gratitude to its Singaporean customers, saying:</p>



<blockquote class="wp-block-quote"><p> &#8220;We have been privileged to support thousands of investors in Singapore on their crypto journey since 2016 and would like to thank everyone who has entrusted their investments to us.&#8221;</p><cite>Luno Team</cite></blockquote>



<p>Customers are advised to visit Luno&#8217;s Help Center for detailed withdrawal instructions.</p>

Crypto firm Luno to cease Singapore operations, users advised to withdraw funds

목차

Cryptopolitan_News

2023년 4월 17일에 게재된 다른 기사

Ripple’s XRP vs SEC: Fair Notice Defense in the Spotlight

SEC Chair Gensler Under Fire from Crypto Industry as Congressman Seeks to Introduce Bill to Fire Him

Over 1 Million ETH Withdrawn Since Shanghai Hard Fork Went Live

Uquid Partners with TRON DAO to Offer Fast and Affordable Payment Methods

A Full Guide on Linea: The New Layer 2 Launched By Consensys, MetaMask’s Parent Company

The Role of Testnets in Qtum's Evolution and Success

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!