KuCoin to Delist 10 Digital Assets, Their Trading to Cease by the 24th of December
The cryptocurrency exchange of KuCoin has announce that it will be delisting 10 digital assets according to its ‘Special Treatment Rule’. The rule is focused on crypto projects and coins that fail to meet certain criteria according to KuCoin. Deposits of the 10 digital asset will be closed today, December 21st, at 8pm (UTC + 8).
The list of affected coins is as follows:
- Jibrel Network (JNT)
- WePower (WPR)
- Modum (MOD)
- EthLend (LEND)
- STK (STK)
- Asch (XAS)
- Bread (BRD)
- BitClave (CAT)
- Mobius (MOBI)
- Bitcoin Gold (BTG)
Last Day to Trade and Withdrawal Deadline
The exchange also informed its customers that trading pairs associated with the 10 digital assets will be closed on the 24th of December, at 6pm (UTC + 8). Users of the platform are advised to cancel pending orders related to the digitial assets as soon as possible.
Withdrawals of the affected cryptocurrencies, will continue to be supported until March 21st, 2019, 6pm (UTC + 8). Users are advised to plan ahead of time by withdrawing the affected coins before the March deadline.
KuCoin’s Special Treatment Area
KuCoin has what is known as a Special Treatment Area where they place projects at risk of being delisted due to the following criteria.
- Low liquidity for a certain period of time
- Struggling or ceasing business activities for 3 months
- The project fails to inform KuCoin of its material changes
- Failure of a project to cooperate with KuCoin for regular routine inspection
- Existence of a security issue in the project’s technology
- Project’s development not in line with the roadmap promised on the whitepaper, and no regular updates by the team on changes
- The project’s information disclosure is incomplete, misleading or untrue
- The project is insolvent, in the process of liquidation, bankruptcy, insolvency or similar financial constraints
- The project or its team member (including but not limited to founders, consultants) is under investigation for a suspected breach of or is convicted for an actual breach of any applicable laws, statutes and regulations
- The project carries out market misconduct such as wash trading, market manipulation or insider trading
- Any other situation KuCoin may deem risky for its users or platform
The affected token/coin is then observed for a certain amount of time. Delisting might occur when the team related to the project, fail to take the necessary actions to remedy the situation.
Recent Tokens Delisted by KuCoin
A month ago, KuCoin delisted 6 other digital currencies. They were: EncrypGen (DNA), Publica (PBL), Raiden Network Token (RDN), Monetha (MTH), BlockMason Credit Protocol (BCPT) and Gladius Token (GLA)
What are your thoughts on KuCoin planning to delist 10 more digital assets? Please let us know in the comment section below.
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