AEX Crypto Exchange to Sell Box Office Rights to Pay Off Debts

According to a report disclosed by the exchange, it had delegated to a third-party law firm and management company the responsibility of transferring a portion of the project equity expected to be reasonably predictable in return for a lower discount to the customer.

AEX stated:

“We will entrust a third-party law firm and a third-party management company to transfer part of the project rights that are expected to be relatively predictable to the client at a lower discount (generally 2 -40% discount), legal currency delivery.”

AEX explained its course of action by saying that it was the most appropriate one given the circumstances.

AEX added:

“One of the better solutions to protect the rights and interests of customers. On the one hand, it helps everyone convert virtual currency claims that lack legal protection into formal contracts with legal protection. On the other hand, it gives customers a relatively predictable period of return to avoid long-term blind waiting.”

The right to return to the box office of film and television works, the stocks of firms to be listed, and returns were just a few examples of the generally predictable returns mentioned in the exchange’s explanation of the assets.

During the previous year, the platform faced regulatory problems that forced a suspension of regular services. Customers’ payments were affected since it lost control of some of the platform’s assets.

In July 2022, the police shut down the AEX exchange and forced withdrawals to be suspended. As part of a police investigation in the Chinese province of Guangxi, the exchange announced that it would stop providing its current services.

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