How long will it take for the European-Italian exchange to be lifted after being blocked?

The date for the lifting of the blockade of Eureka Exchange has not yet been announced and will depend on the progress of the investigation by the regulatory agency. Regulators are investigating Eureka Exchange’s suspected illegal operations, illegal fund-raising and compliance issues. The outcome of the investigation will determine the future of Eurex, including the possibility of being permanently closed or being lifted after regulatory measures are taken.

How long will it take for the European Exchange to be lifted from the blockade?

European Exchange’s lockdown period depends on the progress of the regulatory agency’s investigation, and a clear lifting date has not yet been announced.

Reason for closure

On March 1, 2023, Chinese regulatory agencies conducted a comprehensive investigation into domestic virtual currency exchanges, and OEX Exchange was banned for suspected illegal operations.

Impact of the lockdown

• Users are unable to access the EUREX website and applications.
• Users cannot deposit, withdraw or trade.
• European Exchange’s business activities are suspended.

Regulatory Investigation

Chinese regulators are investigating the operations and compliance of Eureka Exchange. The focus of the investigation includes:

• Whether the exchange is suspected of illegal fund-raising.
• Whether the exchange complies with anti-money laundering and counter-terrorist financing regulations.
• Whether the exchange protects the security of user funds.

Investigation results and lifting of blockade

The results of the investigation will determine the future of EEX. If an investigation uncovers major violations, the exchange could be ordered to shut down permanently. If the violation is minor, the exchange may be subject to regulatory measures, such as fines or restrictions on business scope, and then be unblocked.

User Advice

During this period, users should take the following advice:

• Keep calm and don’t panic.
• Contact EEX customer service for the latest information.
• If you have urgent needs, you can explore other regulated virtual currency exchanges.

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