[New York’s 2023 settlement](https://ag.ny.gov/press-release/2023/attorney-general-james-recovers-17-million-cryptocurrency-platform-operating) pushed CoinEx out of the US, then [CoinEx’s own MiCA notice](https://www.coinex.com/en/announcements/detail/50531444103828) ended EEA service on July 1, 2026. That jurisdictional squeeze matters more than the bear-market line: the long tail loses a spot venue, CSC and OneSwap when [all three shut down](https://x.com/coinexcom/status/2099680522758721756) on Sept. 29.

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