Uphold, a popular cryptocurrency exchange, has announced that it will delist several cryptocurrencies, including Dogecoin, Shiba Inu, and Cardano. The move is part of a larger “delisting spree” by Uphold, which aims to comply with emerging cryptocurrency regulations in Canada. Uphold has entered into a “Pre-Registration Undertaking” with the Ontario Securities Commission to become a licensed crypto exchange in Ontario.
The delisting of these cryptocurrencies has sparked mixed reactions from industry voices. Uphold’s Head of Research, Dr. Martin Hiesboeck, stated that the decision was necessary to ensure compliance with evolving regulations. However, pro-crypto lawyer Bill Morgan questioned the rationale behind the distinction between the delisted assets and Ethereum, which remains listed on the platform.
Uphold has given its Canadian customers a 30-day window to withdraw or convert their affected assets before automatically liquidating the remaining balances into Canadian dollars. The delistings highlight the growing regulatory scrutiny faced by cryptocurrency exchanges in Western nations and pose challenges for major cryptocurrencies like Dogecoin and Cardano.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇨🇦 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Bill Morgan, Dr. Martin Hiesboeck |
| Companies | XRP, Ethereum, Ripple Labs, Ontario Securities Commission, Uphold |
| Currencies | Shiba Inu, Ethereum, Dogecoin, Bitcoin, Cardano |
| Securities | None |
