GSTechnologies has declared a temporary suspension of its cryptocurrency trading services starting April 15, as the organization works to conform with new European regulations.
The financial technology firm explained that this interruption will impact the services provided through Finferno, the VASP-registered entity in Poland that acquired the trading platform from GS Fintech UAB at the close of last year.
GST emphasized that even though trading can continue legally under the current structure until June 30, it has “decided that the Company’s cryptocurrency trading operations should be aligned with the EU Regulation on Markets in Crypto-Assets (‘MiCA’) as soon as possible.”
Consequently, Finferno will “temporarily halt all services related to cryptocurrency trading” starting mid-April. The suspension will remain in effect until a MiCA license is obtained. Updates to Finferno’s Terms of Service will also be implemented to reflect this pause, effective on the same day.
GST has communicated this change to its users and stated that additional updates will follow “in due course, as necessary.”