The Singapore-based Digital Exchange KuCoin in its latest move to streamline digital assets has delisted ten cryptocurrencies including Bitcoin Gold. According to its official announcement, the platform as per the Special Treatment Rule (STR) has disqualified the following Jibrel Network (JNT), WePower (WPR), Modum (MOD), EthLend (LEND), STK (STK), Asch (XAS), Bread (BRD), BitClave (CAT), Mobius (MOBI), and Bitcoin Gold (BTG). Experts say ‘suspicious’ coins are put on the STR category and reviewed for a certain period.
U. Today stated that “projects which are considered for delisting show low liquidity volume over a certain period. They stop or intend to suspend their work for three months, or fail to cooperate with KuCoin on the issues of being regulated locally.” A coin can also be removed if it develops inconsistency. KuCoin said the decision had been taken to provide a solid user experience on the exchange.
Meanwhile, Huobi, the world’s fourth-largest cryptocurrency exchange is also geared to remove 32 digital assets from its platform citing low trading volume. According to Bitcoin.com “to promote the healthy development of the blockchain industry and protect the legitimate rights and interests of investors, Huobi regularly carries out comprehensive reviews of the listed tokens in accordance with the Token Administration Regulations.” Furthermore, the exchange will be re-examining the affected assets on December 26. “Those that fail to meet the listing requirements will effectively be trading under caution, with a real risk of being delisted.”
This is not the first time for an exchange to delist Bitcoin Gold (BTG). In September, Bittrex, a Seattle-based crypto exchange had delisted it because it had refused to pay 12,372 BTG, about $262,907, to the exchange for remaining to be listed. BTG explained its decision not to pay provoked the exchange platform to discard the pairings of BTC-BTG, ETH-BTG, and USDT-BTG. It also said that delisting had not affected it at all.
Delisting is an ongoing exercise for crypto exchange platforms.