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Key Takeaways
Rollbit proclaims the closure of Degen EXchange and sister web site Rollbot.com.
The choice is attributed to “regulatory uncertainty and low adoption.”
$RLB performance stays unaffected; the core product and NFT collections will proceed.
Regulatory Hurdles and Low Adoption Power Closure
In an announcement made on September 22, 2023, Rollbit, a cryptocurrency buying and selling platform, revealed that it’s discontinuing its Degen EXchange because of “regulatory uncertainty and low adoption.” The corporate additionally said that its sister web site, Rollbot.com, is being decommissioned and can now be withdrawal-only with restricted performance for current accounts.
No Impression on Core Merchandise
Regardless of these adjustments, Rollbit clarified that there might be “no adjustments to our core product, Rollbit.com, $RLB or our NFT collections.” The $RLB token can nonetheless be purchased and offered as earlier than. The corporate emphasised that these are unbiased selections geared toward “higher positioning and safeguarding” their enterprise.
Future Developments
Rollbit additionally teased its subsequent spherical of releases, stating they’re “going to be very thrilling” however didn’t present additional particulars. The corporate reassured its consumer base that regardless of the discontinuation of sure providers, the core functionalities and future plans stay intact.
Business Implications
The closure of Degen EXchange provides to the rising checklist of crypto platforms which have confronted regulatory scrutiny. Regulatory our bodies around the globe have been tightening their grip on cryptocurrency exchanges, typically citing considerations about cash laundering and shopper safety.
Picture supply: Shutterstock
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