Bittrex to Remove 82 Altcoins From Its Offerings
Although it may seem that the list of available cryptocurrencies is constantly growing, at least one exchange is moving to rein in the proliferation. In an effort to make sure that all tokens meet it’s “strict coin listing criteria,” which includes [having] a properly functioning blockchain and wallet,” the popular cryptocurrency exchange Bittrex announced plans to delist 82 different altcoins on March 30. According to a report by bitcoin.com, the exchange informed customers of their plans, asking users to withdraw any affected altcoins prior to the removal date if they wish to keep them.
Of the 82 altcoins up for delisting, 28 have been found to have “broken blockchains or wallets that will not allow withdrawals,” according to a statement by the exchange.
The tokens that are slated for removal are 8BIT, ADC, AM, AMS, APEX, ARB, BITS, BITZ, BLC, BOB, BSTY, BTA, CCN, CRBIT, CRYPT, DAR, DGC, DRACO, DTC, FC2, FRK, FSC2, GEMZ, GHC, GP, GRT, HKG, HYPER, HZ, J, KR, LXC, MAX, MEC, METAL, MND, MTR, MZC, NAUT, NET, NEU, NTRN, OC, ORB, PRIME< PXI, ROOT, SCOT, SCRT, SFR, SLG, SLING, SOON, SPRTS, SSD, STEPS, STV, SWING, TES, TIT, TRI, TRK, U, UFO, UNIQ, UNIT, UNO, UTC, VIOR, VIRAL, VP, WARP, XAUR, XBB, XC, XCO, XDQ ,XPY, XQN, XSEED, XTC and YBC.
Bittrex Aims for Stronger Regulatory Compliance
The removal of those coins from the Bittrex platform comes as part of an effort on the part of the exchange to develop stronger regulatory compliance. Besides this delisting, Bittrex adopted new terms of service, which came into effect on March 9 and which prohibit “citizen[s] or resident[s] of any state, country, territory or other jurisdiction that is embargoed by the United States” from accessing the platform.
Bittrex has stated that it remains “committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers” through the use of “a robust digital token review process to ensure the tokens listed on the exchange are compliant with U.S. law and are not considered securities.” The company added that it will continue its “proactive dialogue with the SEC and other regulators on how to build a secure, fully-regulated environment for blockchain.”
Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns bitcoin and ripple.
Source: Read Full Article