Bittrex, one of the largest cryptocurrency exchanges in the world, announced that they will be withdrawing 82 tokens from their platform.
In a statement, the exchange said, “Occasionally, there are circumstances that lead Bittrex to remove a coin’s wallet or market from the Bittrex Exchange. These actions are taken to ensure customers have access to digital tokens that continue to meet our strict coin listing criteria and have a properly functioning blockchain and wallet.”
Elaborating its stance, the exchange added, “We will be removing the wallets included in the list below on March 30, 2018. Once these wallets are removed, we will no longer be able to recover these coins. Users must withdraw their coins before March 30, 2018, in order to keep them. The coins marked with an asterisk (*) have broken blockchains or wallets that will not allow withdrawals.”
Some of these tokens include, AudioCoin, Arbiz, Bob’s Repair, Crypterium, DragonCoin, DateeCoin, among others.
Trading platforms find it difficult and loss-inducing to support a consistent order book if cryptocurrencies do not attract attention from investors or if they do have enough liquidity.
Recently, the United States Securities and Exchange Commission (SEC) came down heavily on unregulated cryptocurrency exchanges and Initial Coin Offerings.
On the occasion, Bittrex had said, “As a U.S.-based digital currency exchange, Bittrex is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers. Bittrex uses 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 exchange further said, “Bittrex is committed to helping advance the United States’ global leadership in this emerging industry, and we look forward to continuing our proactive dialogue with the SEC and other regulators on how to build a secure, fully-regulated environment for blockchain that encourages innovation and economic growth.”
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