The cryptocurrency exchange Bittrex recently announced that it plans on delisting over 80 altcoins by the end of the month. The exchange has informed its clientele that they must withdraw the designated assets to their personal wallets if they wish to retain access to them once they are removed from the platform.
But why Bittrex?
In their post, Bittrex declared that these altcoins are to be removed in order to ensure that their clients only have access to digital assets which meet their strict coin listing criteria’s. In addition to having an actual functional Blockchain and cryptocurrency wallet.
Out of all the coins selected by Bittrex, nearly 30 have Blockchains which are broken and incapable of supporting withdrawals. Additionally, Bittrex wants to get rid of altcoins with low liquidity so as to not clutter up their exchange platforms space.
Regulatory compliance looming.
It’s worth noting that the actions Bittrex is taking are occurring right in the midst of great regulatory uncertainty. Many of you might not be aware, but on March 9th, Bittrex kicked in some new terms of service. Which specifically prohibits citizens from countries that are embargoed by the United States from using their exchange. This includes Iran, North Korea, Crimea, Syria, and Cuba.
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 are listed on the exchange are compliant with U.S law and are not considered securities.
In response to the SEC. (2018)
Bittrex delisting busted and worthless altcoins is definitely a good step forward towards a cleaner market. 2018 seems to be the year during which many useless Blockchain projects with altcoins that have zero value will fall off. I recommend that you most likely sell them off if you still can.
Join Our Telegram Channel
Cryptona.co is a popular news resource devoted to cryptocurrencies, the blockchain, and new technologies. If you have breaking news, suggestions, story tip or interesting ideas to send to our journalists? Please write to us at [email protected]