KuCoin Takes the Axe to Altcoins in Compliance Overhaul
Major cryptocurrency exchange KuCoin has taken a bold step to tighten compliance measures by axing ten altcoin projects from its platform.
This move, which goes into immediate effect, is in line with KuCoin’s commitment to uphold its Special Treatment Rules, ensuring that all listed projects meet their stringent standards.
Among the delisted tokens are:
- Kambria (KAT)
- Sakura (SKU)
- Don-key (KDON)
- LOCGame (LOCG)
- Sienna (WSIENNA)
- Inflation Hedging Coin (IHC)
- Position Exchange (POSI)
- TE-FOOD (TONE)
- Pika Protocol (PIKA)
- Karura (KAR)
As a result, trading pairs associated with these tokens, such as KAT/USDT and SKU/USDT, will vanish from the exchange.
KuCoin has laid out a phased plan for this delisting process. Trading bots will cease operations at 09:45 Turkish time today, followed by the formal removal of affected trading pairs at 10:00 Turkish time. Users are being strongly advised to cancel any outstanding orders tied to these tokens to efficiently manage their holdings.
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Withdrawal services for these altcoins will grind to a halt at 13:00 Turkish time on May 28, 2024. To mitigate any potential loss of funds, KuCoin stresses the importance of users initiating their withdrawal process before this cutoff date.
Throughout this transition, KuCoin has underlined the necessity of user cooperation and swift action in withdrawing funds to avert unnecessary losses. This move reflects a broader trend in the cryptocurrency market, where exchanges are placing a heightened focus on adhering to regulations and safeguarding user interests.
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.
