Ohio has ordered a halt to crypto exchange Coinzoom's operations in the state

On August 3rd, according to News.bitcoin, the Department of Financial Institutions Group (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, offers a variety of financial products, and supports more than 30 cryptocurrencies.
The directive, which went into effect on Aug. 1, prohibits Coinzoom from accepting new business or assets from Ohio residents. Existing Ohio customers will still be able to withdraw fiat currency or cryptocurrency assets, though. The suspension follows multi-state bank inspections where Ohio regulators were unable to verify Coinzoom's finances due to incomplete or inaccurate financial records. The suspension will last until the DFI or court modifies or cancels the order, and Coinzoom has requested an administrative hearing.