European Union · CryptoSlate
AscendEX shuts down after MiCA miss and signals some withdrawals may not be processed
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AscendEX shut down on July 1, leaving some customers unsure whether they will recover their funds.
Key facts
- The exchange said in a July 6 notice that it does not hold authorization under the European Union's Markets in Crypto-Assets framework
- On July 6, he said multiple users had faced suspended withdrawals
- ESMA told unauthorised providers to stop onboarding EU clients after the MiCA transition ended on July 1 while allowing only the services needed for an orderly exit
- AscendEX shut down on July 1, leaving some customers unsure whether they will recover their funds
Summary
01 AscendEX stopped operating July 1 and said some withdrawals may not be processed after a July 6 notice. 02 The exchange cited missing EU MiCA authorization, financial pressure, and a failed liquidity deal that halted automated withdrawals. 03 Customers still lack timing or payment certainty, while AscendEX reviews requests manually and may enter insolvency-related proceedings. The exchange said in a July 6 notice that it does not hold authorization under the European Union's Markets in Crypto-Assets framework.