Sept 15 : Hong Kong-based crypto exchange CoinEx said on Tuesday it would shut down, citing a prolonged downturn in crypto markets as well as rising security and compliance costs.    

CoinEx said it would gradually cease services from September 15, with withdrawals remaining available until December 22.

Weak cryptocurrency markets, shrinking trading volumes and liquidity, and steadily rising regulatory requirements across major jurisdictions had all “exceeded reasonable boundaries”, CoinEx said in a statement on its website.

“CoinEx did not become one of the industry’s leading exchanges, and the security and compliance risks of running a crypto exchange have become increasingly difficult to contain,” founder Haipo Yang said in a post…