Two major cryptocurrency exchanges, Kraken and OKX, recently made announcements regarding the delisting of several altcoin pairs. Thus, he pointed out the impact of regulatory changes and evolving industry standards. Here are the details…
Kraken is doing some delisting in Canada
Kraken, one of the world’s leading cryptocurrency exchanges, is preparing to suspend trading for USDT, DAI, WBTC, WETH and WAXL in Canada. The decision to suspend these cryptocurrencies in the Canadian market was due to recent regulatory changes in the country. A spokesperson from Kraken explained their approach:
We constantly monitor assets on our platform to ensure they meet the highest compliance standards in the crypto industry. In accordance with recent regulatory changes in Canada and following extensive consultation with the CSA and OSC, we notified our customers today that we will soon suspend trading in USDT, DAI, WBTC, WETH and WAXL. However, we are committed to providing our Canadian customers with an exceptional trading experience.
This move highlights the growing influence of regulators in the cryptocurrency industry. It also forces exchanges to adapt and comply with evolving rules and standards. Canadian users of Kraken are requested to closely follow the timelines provided and take necessary precautions to secure their assets during the suspension period.
OKX delists some altcoin pairs
Separately, OKX, another leading cryptocurrency exchange, is preparing to delist several trading pairs to maintain a robust spot trading environment. These delistings are based on user feedback and OKX’s Token Delisting/Hiding Guide. Yesterday, six altcoin pairs have already gone delist. These couples were as follows:
- FODL-USDT
- CHE-USDT
- INT-BTC
- INT-USDT
- PNK-USDT
- MXT-USDT
Between 11:00 and 11:30 on October 30, the following 11 altcoin pairs will be delisted:
- SSV-USDC
- DOT-ETH
- COMP-BTC
- UNI-ETH
- KNC-BTC
- ANT-BTC
- MKR-ETH
- XRP-OKB
- CRV-ETH
- LTC-OCD
- SUSHI-ETH
What should users pay attention to?
The exchange advises users to cancel orders on these trading pairs before their delisting dates to avoid automatic cancellation. Because this process may take 1-3 business days to complete. Additionally, the suspension of token deposits and withdrawals for certain cryptocurrencies (FODL, CHE, INT, PNK and MXT) will also come into effect on the specified dates. Users are encouraged to manage their assets accordingly during this period.
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