Otet Markets reports AscendEX halts operations and restricts withdrawals due to EU MiCA rules

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Parshwa Turakhiya

09.07.2026

Otet Markets reports AscendEX halts operations and restricts withdrawals due to EU MiCA rules — AscendEX suspends operations and withdrawals

Otet Markets reports that crypto exchange AscendEX has halted operations effective July 1, 2026, restricting user account access to off-boarding activities such as withdrawals and transaction history downloads due to lack of EU MiCA authorization and operational challenges. Automated withdrawals have been suspended and all requests are now subject to manual review, with no assurances on processing times or amounts.

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AscendEX, a crypto exchange, officially ceased all operations on July 1, 2026, citing lack of authorization under the new EU Markets in Crypto-Assets Regulation (MiCA) and broader operational and financial challenges. User access is now limited solely to off-boarding functions, such as submitting withdrawal requests, updating KYC information, and downloading transaction history, with new deposits and trading features disabled.

Since July 6, 2026, automated withdrawals have been suspended; all withdrawals require manual review, subject to account verification, sanctions and fraud screening, and legal constraints, with no assurances given regarding processing times or amounts. AscendEX has warned of possible insolvency proceedings and advises users to act promptly, as future handling of unresolved balances may depend on the outcome of such processes.

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Otet Markets is a Forex and CFD broker that gives traders access to over 300 instruments, including currency pairs, stocks, indices, commodities, and cryptocurrencies, via the MetaTrader 5 and cTrader platforms. The broker provides a range of account types, low minimum deposits, support for algorithmic trading, trade copying, and 24/7 customer support. For more details about the broker’s services and features, see the broker profile on Traders Union.

For more insights on Otet Markets and the growing adoption of blockchain in asset management, see our earlier news about Otet Markets, which explored how tokenization is enabling customized investment portfolios and increased efficiency for institutional investors: previous Otet Markets update on Traders Union.

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