Dasset, a cryptocurrency exchange based in Auckland, New Zealand, have denied customers access to their funds, and a company representative has confirmed the exchange’s liquidation.
The Herald, a local news source, reported the exchange’s difficulties on August 14. According to the report, some consumers have attempted to withdraw their funds for months.
Stephen Macaskill, the company’s chief executive officer, explained to journalists that Dasset needed to locate a new banking provider after its previous provider ceased working with the exchange in January 2023.
Additionally, Macaskill disclosed that the company had initiated voluntary liquidation. However, creating a new Dasset account is still possible, and there was no mention of liquidation on the company’s official Twitter or Instagram accounts.
The link to Dasset’s official website now redirects to the page announcing the exchange’s liquidation by the law firm Grant Thornton. The following firm was appointed liquidator:
“Dasset’s management says a significant reduction in asset values and trading levels impacted its ability to trade profitably. It was determined the appointment of liquidators was in the best interests of all stakeholders.”
Grant Thornton plans to contact Dasset’s customers and suppliers in the coming days and pledges to continue focusing on “securing and protecting” the company’s assets.
Ian Woolford, director of money and currency at the Reserve Bank of New Zealand, stated publicly in June 2023 that the country still does not require a regulatory approach to cryptocurrencies.
Current laws recognize digital assets as property and regulate them via non-crypto-specific financial, anti-money laundering, and tax regulations.
