Ohio orders cessation of cryptocurrency exchange Coinzoom operations in the state

According to News.bitcoin, the Financial Institutions Division (DFI) of the Ohio Department of Commerce recently announced that it has ordered cryptocurrency exchange Coinzoom Inc. to immediately cease operations in the state. Coinzoom has a currency transfer license in Ohio, offering a variety of financial products and supporting over 30 cryptocurrencies. The directive came into effect on August 1st, prohibiting Coinzoom from accepting new business or assets from Ohio residents. However, existing customers in Ohio can still withdraw legal tender or cryptocurrency assets. The suspension is due to Ohio regulators being unable to verify Coinzoom's financial status due to incomplete or inaccurate financial records, following multiple state bank inspections. The suspension will continue until DFI or the court modifies or cancels the order, and Coinzoom has requested an administrative hearing.