The popular Singaporean crypto exchange KuCoin announced to remove 10 crypto tokens since they failed to fulfill the criteria under the Special Treatment Rule framework where only projects that meet the criteria to be listed on the platform and it today’s altcoin news we find out more about this decision.
KuCoin announced the decision on their official website on December 21 where they said that the 10 digital assets will have all of the deposit services stopped.
All of the trading pairs for the delisted cryptocurrencies were also halted at 18:00 on December 24, 2018. However, the users will still be able to expect the withdrawals of the removed tokens until March 21, 2019.
The delisted cryptocurrencies are Jibrel Network (JNT), WePower (WPR), Modum (MODR), EthLend (LEND), STK (STK), Asch (XAS), Bread (BRD), BitClave (CAT) and Mobius (MOBI).
According to the announcement, the decision was made after the exchange conducted the last phase of observation under the Special Treatment framework which makes sure that all of the cryptocurrencies meet the much-needed criteria for fulfilling minimum requirements regarding roadmap, liquidity, market conduct, security and project solvency.
A piece of the KuCoin Special Treatment statement says:
‘’The Exchange may, during the observation period, decide to delist the ST Project if the Exchange believes the ST Project fails to take necessary actions to remedy the Negative Situation. Nevertheless, the Exchange reserves the right, in its sole discretion and without prior notice, to immediately delist the ST Project if the Exchange believes circumstances warrant so.’’
Last year, KuCoin completed a $20 million Series A funding which was led by IDG Capital in order to boost expansion.
IBM And Stellar Partnership In Jeopardy Amid Exec Disruption
South American Online Marketplace Works With Facebook On Its Crypto Project
Gold-Backed Russian Crypto Could Crush The USD Standard
“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
Crypto Trading In The US Becomes A Nightmare, What’s The Solution?
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Regulation5 days ago
Financial Action Task Force Wants To Turn BTC Exchanges Into Banks
Ethereum News2 days ago
Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction
Bitcoin News3 days ago
Bitcoin Tax Evasion Will Be Criminally Punishable: IRS Warns
Bitcoin News3 days ago
Weiss Ratings Upgrades Bitcoin From B- To B: Report
Altcoin News3 days ago
Bitcoin Wraps Around $8,200: Consolidation Could Happen Soon
Altcoin News1 day ago
Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)
Bitcoin News4 days ago
Call Center Scam From India Steals $1.7 Million In Bitcoin
Blockchain News5 days ago
Erik Finman Will Bring Crypto To The Masses With The Help Of CoinBits