The regulatory body had deemed the exchange dormant because it had no trading activity in the three years following its registration with the CFTC.
Source: https://www.coindesk.com/teraexchnage-reinstated-as-swap-execution-facility-cftc-order
Source: https://www.coindesk.com/teraexchnage-reinstated-as-swap-execution-facility-cftc-order
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