Coinbase Announces Yet Another Altcoin Delisting Decision
In a recent development within the cryptocurrency realm, Coinbase, a prominent player in the American crypto exchange landscape, has made a notable decision regarding its trading portfolio.
Through a public announcement on their official Twitter handle, Coinbase revealed its intention to halt trading activities for Status (SNT) effective February 23, 2024, around 2 p.m. ET. This decision comes in the wake of an internal review conducted by the exchange to ensure compliance and uphold quality standards.
We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Status (SNT) on 23 February 2024, on or around 2 PM ET.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) February 9, 2024
Although Status (SNT) remains accessible on platforms such as Binance, OKX, and Upbit, as per reports from Wu Blockchain, Coinbase has opted to suspend its trading across all its subsidiary platforms, including Coinbase Simple, Advanced Trade, Exchange, and Prime.
In response to this alteration, the order books for SNT will transition to a restricted limit-only mode, permitting the placement and withdrawal of limit orders while enabling specific matching conditions. Additionally, Coinbase recently announced the cessation of support for Bitcoin SV (BSV) and suspended trading for several other cryptocurrencies, including Aragon (ANT), ATA, DREP, MONA, and SYLO.
READ MORE: Binance Joins Forces with INTERPOL to Boost Cybersecurity Worldwide
The decision by Coinbase comes amid heightened scrutiny and legal challenges faced by major crypto exchanges in the United States. The Securities and Exchange Commission (SEC) initiated legal proceedings against both Binance and Coinbase last year, alleging regulatory violations.
Coinbase specifically faces accusations of operating its crypto asset trading platform as an unregistered national securities exchange, a matter currently under dispute by the exchange.
Meanwhile, Binance attracted attention by announcing the delisting of privacy-focused token Monero (XMR) and discontinuation of trading for various other cryptocurrencies such as Aragon (ANT), Multichain (MULTI), and Vai (VAI), as part of its ongoing review process.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
