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.
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
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