Crypto
KuCoin Delists 10 Altcoins to Promote Compliance within Crypto Exchange
courtesy of bitcoinist.com
Special Treatment Rules Ensure Quality and Compliance
KuCoin, one of the world's leading cryptocurrency exchanges, has made the decision to delist 10 altcoins from its platform. This move is in accordance with the exchange's Special Treatment Rules, which aim to guarantee the quality and compliance of listed projects. By removing these altcoins, KuCoin is ensuring the provision of safe and reliable cryptocurrencies for its users.
Effective Immediately – Altcoins and Trading Pairs Removed
The delisting of these altcoins will take place today, November 24, 2023. At approximately 6:45 a.m. (UTC), the tokens will be removed from the platform, with the altcoins officially terminated at 7:00 a.m. (UTC) on the same day. This means that several related trading pairs will also be stopped.
Altcoins and Trading Pairs Affected
The following altcoins will cease operation today: (KAT), Sakura (SKU), Don-key (KDON), LOCGame (LOCG), Sienna (WSIENNA), Inflation Hedging Coin (IHC), Position Exchange (POSI), TE-FOOD (TONE), Pika Protocol (PIKA), and Karura (KAR). Additionally, the several trading pairs listed below will no longer be available on the platform: 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, KAR/USDT.
Clear Process for Altcoin and Trading Pair Removal
KuCoin has outlined the process for the cessation of these altcoins and trading pairs. The exchange's trading bots, including Spot Grid, Infinity Grid, DCA, Smart Rebalance, Martingale, and Futures Grid, will stop operating. The deposit service for these projects will remain closed, while withdrawals are expected to close on May 28, 2024. Users are advised to manage their assets and terminate any pending positions related to the affected projects before the deadline to avoid complications.
Act Quickly to Avoid Losses
KuCoin emphasizes the importance of acting quickly during this transition. Late withdrawals may result in failed withdrawals, and the exchange will be unable to cover users' losses in such cases. Users are urged to make their withdrawals at the earliest convenience. It is worth noting that if a withdrawal fails due to the actions of the project, KuCoin will close the withdrawal service and will not be able to cover users' losses.
Broader Industry Trend: Focus on Legal and Regulatory Matters
KuCoin's delisting of altcoins to promote compliance is part of a larger trend in the cryptocurrency space. Exchanges are increasingly prioritizing legal and regulatory matters to ensure the safety and security of their users.
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