Crypto.com Shuts Down US Institutional Service Amid SEC Crackdown.

Crypto.com will shut down its institutional service for American clients on June 21 due to limited demand from institutions in the US market. The decision will not impact its retail app used by more than 80 million users worldwide. The move comes as the US becomes an increasingly difficult place for crypto companies to do business, with the SEC suing major crypto exchanges Binance and Coinbase this week and its Chairman hinting that digital asset companies weren't welcome.