The Tokyo-based crypto exchange, Coincheck, announced that it is terminating its leveraged trading service, in a blog post this morning.
Settlement and Transfer Deadlines
The planned end date for leveraged crypto trading is 12:00 on Friday, March 13, 2020, by which deadline all open positions should be settled. Customers will then have until the end of March 2020, to transfer any Japanese Yen balance in Coincheck’s leverage account to their own trading accounts.
Positions not settled by the end date will be automatically closed, and any balance transferred to leverage account. Similarly, any leverage account balances not transferred by the end of March will be automatically transferred after this date.
New orders for leveraged crypto trades are suspended, effective immediately, although the transaction history of leveraged trades can…