Blackmoon Crypto Announces Closure

The Blackmoon exchange, which was supposed to be the first to open trading in the Gram token, is closing.This was announced by its generalDirector Oleg Seydak.

Blackmoon has been pushing hard through its relationships with investors and partners in the upcoming launch of the Telegram Open Network (TON) last fall.

Soon, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the messaging platform and secured an injunction delaying the release of Gram for months.And the latest court ruling casts doubt on the token distributions planned for the end of April . 

The head of the exchange notes that not only the situation with Telegram, but also the high costs of compliance with regulatory requirements caused the exchange to close.

After deep analysis, we came to the conclusion thatmanaging crypto exchanges in accordance with all modern standards, including the Fifth Directive to combat money laundering and licensing requirements (which are constantly changing unpredictably), is not competitive.

Exchange sent emails to userswith the announcement of the closure last week. All withdrawal limits and commission fees were canceled at the site for the convenience of users. Owners of Blackmoon's internal BMC tokens sold during the initial coin offering (ICO) for $ 30 million in 2017 will be able to convert their assets into stable USDC coins from April 24. Withdrawals will be processed automatically over the next three months.