KuCoin, a major cryptocurrency exchange, has announced the delisting of ten altcoin projects to align with its Special Treatment Rules. Effective immediately, KuCoin’s decision aims to ensure listed projects meet the platform’s standards.
The affected tokens, including Kambria (KAT), Sakura (SKU), Don-key (KDON), LOCGame (LOCG), Sienna (WSIENNA), Inflation Hedging Coin (IHC), Position Exchange (POSI), TE-FOOD (TONE), Pika Protocol (PIKA), and Karura (KAR), will see their related trading pairs removed, such as KAT/USDT and SKU/USDT.
Timeline and Withdrawal Procedures
KuCoin has outlined a phased approach for the delisting process. Trading bots for the affected pairs ceased operations at 09:45 Turkish time on November 24, 2023. Official removal of the trading pairs followed at 10:00 Turkish time on the same day.
Furthermore, withdrawal services for the delisted altcoins will halt at 13:00 Turkish time on May 28, 2024. To prevent any potential fund loss, KuCoin urges users to initiate the withdrawal process before this deadline.
User Cooperation and Emphasis on Compliance
KuCoin emphasizes the necessity of user cooperation during this transition, highlighting the importance of prompt action to withdraw funds and avoid losses. This move reflects a growing trend among exchanges to prioritize regulatory compliance and user protection in the cryptocurrency landscape.
Binance Follows Suit with Margin Trading Pair Delistings
Similarly, Binance is set to delist specific margin trading pairs like BTC/BUSD and ETH/BUSD starting December 7, 2023. This decision aligns with the evolving regulatory landscape amid increased scrutiny regarding money laundering concerns in the crypto sphere. Binance’s move also underscores the necessity for exchanges to swiftly adapt to regulatory changes.
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