KuCoin Delisting 10 Altcoins to Promote Compliance
KuCoin, a leading cryptocurrency exchange, has announced that it will be delisting 10 altcoins from its platform as part of its efforts to promote compliance within the crypto exchange. The decision to remove these altcoins is based on the failure of these projects to meet certain conditions outlined in KuCoin’s Special Treatment Rules.
According to the Special Treatment Rules of KuCoin, the following projects have been disqualified, and the tokens will be removed from the platform.
The purpose of these rules is to ensure that all listed projects adhere to the exchange’s quality and compliance criteria. This demonstrates KuCoin’s commitment to providing safe and reliable cryptocurrencies for its users.
Delisting Process and Trading Pairs Affected
The delisting of these altcoins will take effect today, November 24, 2023, at approximately 6:45 a.m. (UTC), with the tokens being officially terminated from the platform at 7:00 a.m. (UTC) on the same day.
As a result of this delisting, several trading pairs associated with these altcoins will also be discontinued. The affected trading pairs include KAT/USDT, KAT/BTC, SKU/USDT, SKU/BTC, KDON/USDT, LOCG/USDT, WSIENNA/USDT, IHC/USDT, POSI/USDT, TONE/USDT, TONE/BTC, TONE/ETH, PIKA/USDT, and KAR/USDT.
Closure Process for Users
KuCoin has provided a clear process for how users can manage their assets during this transition. The exchange’s trading bots, including Spot Grid, Infinity Grid, DCA, Smart Rebalance, Martingale, and Futures Grid, will cease operations. The deposit service for these projects will remain closed, while withdrawals are expected to be closed on May 28, 2024.
Users are advised to act quickly and close any pending positions related to the delisted projects before the deadline to avoid complications. KuCoin warns that late withdrawals may result in failed withdrawals, and the exchange will not be able to cover any losses incurred as a result.
Hot Take: Compliance Becomes a Priority for Exchanges
KuCoin’s decision to delist these altcoins reflects a broader trend in the cryptocurrency industry where exchanges are increasingly focusing on legal and regulatory compliance. By enforcing strict rules and standards, exchanges like KuCoin aim to create a safer environment for users and ensure the credibility of listed projects.
By
By
By
By
By