News

KuCoin has lifted 10 Tokeni for not matching the listing criteria

Singaporean Crypto Exchange KuCoin announces that it has delisted the 10 crypto-money project (removed from the stock exchange) as part of the Custom Code of Practice designed to ensure that only projects that meet and maintain certain criteria are listed on the platform.

In an announcement published on the official website, the stock market announced that the affected digital asset services were halted.

Following this, trading pairs for crypto-coins were stopped on December 24, 2018 at 18:00 (UTC + 8). Users will be able to withdraw assets from the list until 21 March 2019 at 18:00 (UTC + 8).

Custom Application Rule

Affected crypto-coins are as follows:

Jibrel Network (JNT)
WePower (WPR)
My Mode (MOD)
EthLend (LEND)
NGO (NGO)
Asch (XAS)
Bread (BRD)
BitClave (CAT)
Mobius (MOBI)

According to the announcement, the decision to remove the assets from the lists of all listed crypto-currencies liquidity, roadmap compliance, market behavior, security and project payability After completion of the most recent observation phase under the Special Code of Practice established to ensure that it meets the minimum requirements in many criteria.

According to some part of KuCoin's Special Practice Rule announcement:

During the observation period, the Exchange may decide to remove the ST Project from the list if the ST believes that the ST Project cannot take the necessary measures to correct the Negative Situation. However, the Stock Exchange reserves the right to terminate the ST Project immediately, without pre-notification, at its sole discretion and without prior notice, if the conditions are believed to be required by it.

According to the disclosure, projects can be removed from the list if they are observed to have low liquidity for a certain period of time or if they stop operations for a period of three months.

Other Conditions of the Agreement

Other issues that may cause a project to be removed from ongoing lists not to report any material changes to the stock exchange, not to cooperate with the stock exchange for regular routine audits, security problems, deviations from project introduction reports, lack of constant communication on the project website, sharing misleading or inaccurate information as shown.

Other issues listed as a breach of agreement between the project failing to pay off debts, involvement of the project team in questionable activities and investigations of illicit activities, fictitious transactions, insider trading, market manipulation, and any other situation that the platform considers to be at risk for its customers or reputation There.

Source: CCN

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Lara Shalov Mehraban, Deputy Regional Director of the SEC's New York Regional Office,

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Source: Cointelegraph