CoinEx to Gradually Discontinue Exchange Services by December 22

The U.S. Federal Reserve raised interest rates by 25 basis points to a range of 3.75%-4.00%, marking the first increase in three years since 2023, with the Federal Open Market Committee noting robust economic activity and spending. Crypto exchange CoinEx announced it would gradually discontinue its services, supporting withdrawals until December 22. The exchange cited prolonged market weakness, declining trading volume and liquidity, and rising regulatory costs in key regions as reasons for the shutdown. Meanwhile, the U.S. Senate rejected the Virtual Asset Market Structure Act, known as the Clarity Bill, with a vote of 49-50 on Thursday. On December 17, the SEC approved a temporary conditional exemption allowing limited trading of tokenized U.S. listed stocks on certain on-chain venues under specific conditions. The UK's Financial Conduct Authority (FCA) plans to implement new regulations including virtual asset business licensing from October 25, 2027. Circle announced the public mainnet launch of its financial market blockchain Arc on December 16, while Deutsche Bank stated it aims to begin digital asset custody services for European institutional and corporate clients this year.