KuCoin Cryptocurrency Exchange ‘Delists’ 10 Tokens
KuCoin Crypto exchange has announced the removal of 10 cryptocurrency projects under its Special Treatment Rule framework which is designed to ensure that only projects that meet and maintain certain criteria are listed on the platform.
Via its official website on December 21, the exchange revealed that the affected digital assets will have deposit services halted at 20:00 (UTC+8) on December 21, 2018.
As a result of this, trading pairs for the delisted cryptocurrencies will be halted at 18:00 (UTC+8) on December 24th, 2018. However, users will be able to effect withdrawals of the delisted assets until 18:00 (UTC+8) on March 21, 2019.
The affected cryptocurrencies are:
- Jibrel Network (JNT)
- WePower (WPR)
- Modum (MOD)
- EthLend (LEND)
- STK (STK)
- Asch (XAS)
- Bread (BRD)
- BitClave (CAT)
- Mobius (MOBI)
This was effected after Special Treatment framework which exists to ensure that all listed cryptocurrencies meet certain minimum requirements regarding liquidity, roadmap adherence and others.
An excerpt from KuCoin’s Special Treatment statement reads:
“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.”