March 28, 2023

up to date with the latest developments as we await the publication of the court’s written order.

CoinFLEX, a Hong Kong-based crypto derivatives exchange, has been undergoing a restructuring process and has now received approval from the Seychelles courts. The exchange did not provide any further details on the next steps, but stated that the written court order is expected to be published this week and will be shared immediately after that.

Trading in locked assets, including LETH and LUSD, on the exchange will remain closed until the exchange publishes the written court order. Decrypt has reached out to CoinFLEX for additional commentary.

This news comes as the crypto industry continues to face regulatory scrutiny and increased pressure from governments around the world. CoinFLEX’s successful restructuring could be seen as a positive development for the industry, as it demonstrates that crypto exchanges are taking steps to comply with regulations and ensure the safety of their users’ funds.

As the crypto market continues to evolve, it will be interesting to see how exchanges like CoinFLEX adapt to changing regulations and market conditions. With the approval of its restructuring plan, CoinFLEX is well-positioned to continue serving its users and contributing to the growth of the crypto industry.

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