Information on the Alliance Breakup with RMT Korea Inc.

We would like to announce CROSSTECH has removed its alliance with RMT Korea Inc. (*RMT) in the CROSSTECH Consortium.

Reasoning for the alliance breakup are as follows.

RMT is based on the Korea Cryptographic Asset Exchange "Act on Reporting and Use of Specified Financial Transaction Information (Special Prohibition Law)", and all cryptographic asset service providers in Korea will be required by September 24, 2021. They were required to register with the Financial Information Analysis Institute (FIU).

However, it was not possible to complete a registration application to open a named bank account and receive a information security management system (ISMS) certification from the FIU by the notification deadline of being a business operator. RMT is currently enacting the law on specific financial transaction information, being compliant as a service provider as a cryptocurrency exchange business.
* Customers who have crypto assets deposited with RMT have already been contacted by RMT.
Individual inquiries regarding service outages can be made here:
support@rmtkorea.net

CROSSTECH determined it not wise in the fast-paced crypto asset market to rely on meeting the application criteria of the ISMS and put the project on standby, considering the situation of RMT in Korea comprehensively based on Korean laws and regulations. We have reached a decision and have now removed our alliance with RMT.

CROSSTECH's business development in South Korea is a policy of forming an alliance with a company that has acquired ISMS certification so that it will not be affected by the dissolution of this alliance. We will keep you informed of the progress of the Korean project in the future.

About XCR

Regarding the listing of XCR, we are coordinating with related parties so that it will not be affected by the ISMS application law and the breakup with the Korean RMT Consortium member. We will make an announcement when we can.

CROSSTECH's XCR project is scheduled to be announced at an international summit in October 2021, and we assure you the project is making steady progress.

Details will be provided in a separate announcement.

Thank you for your support and understanding.