Bittrex on Delisting Spree: 82 Altcoins to be Removed in March
Major exchange Bittrex is notorious for delisting cryptocurrencies on mysterious grounds. However, this time, Bittrex has announced that it shall remove as many as 82 altcoins from their website in March 2018 due to increasing regulatory standards. The exchange has made the list of coins they intend to delist public and warned the users that currently possess any of them to withdraw their money before March 30th.
It is not uncommon for Bittrex to remove markets or delist coins from their exchange. Notable incidents in the past include the delisting of them Mysterium coin, the token of an anonymous VPN provider that was pretty popular with the community. Not only that, but it did have an impressive trade volume – over $12M in just 24 hours. Bittrex removed Mysterium from their exchange without prior notice, basing their decision on the fact that the anonymous VPN application was not fully developed. This raised quite a bit of fuss in the community, with users and Mysterium developers arguing that it ‘takes time to build a decentralized VPN with payments where the token can be used.’
This time, Bittrex blames their decision on regulatory compliance, and will remove all the currencies that ‘do not have a properly working blockchain and a proper wallet.’ In addition, coins with a thin liquidity or low trade volume will also be delisted from the exchange. The coins listed for removal on March 30th are: 8BIT, ADC, AM, AMS, APEX, ARB, BITS, BITZ, BLC, BOB, BSTY, BTA, CCN, CRBIT, CRYPT, DAR, DGC, DRACO, DTC, FC2, FRK, FSC2, GEMZ, GHC, GP, GRT, HKG, HYPER, HZ, J, KR, LXC, MAX, MEC, METAL, MND, MTR, MZC, NAUT, NET, NEU, NTRN, OC, ORB, PRIME, PXI, ROOT, SCOT, SCRT, SFR, SLG, SLING, SOON, SPRTS, SSD, STEPS, STV, SWING, TES, TIT, TRI, TRK, U, UFO, UNIQ, UNIT, UNO, UTC, VIOR, VIRAL, VP, WARP, XAUR, XBB, XC, XCO, XDQ, XPY, XQN, XSEED, XTC, and YBC.
The March 30th delisting spree is just one of the many steps Bittrex is taking to achieve regulatory compliance. Others include registering with the US SEC, prohibiting users from regions embargoes by the US to trade on the platform, and more.