Uphold Takes Action: Delete Shiba Inu, Dogecoin, and Cardano under Canadian Regulations
- Uphold announced the delisting of several cryptocurrencies in Canada, including major tokens such as Cardano, Dogecoin, and Shiba Inu, to comply with regulatory obligations.
- Despite the wave of delistings, Uphold continues to support XRP, strengthening its commitment to the token amid ongoing legal developments related to its regulatory classification.
Uphold’s compliance efforts and continued support for XRP
cryptocurrency exchange surge up It recently announced plans to delist a number of cryptocurrencies, a significant move that will impact Canadian users. The decision to delist Cardano ($ADA), Dogecoin ($DOGE), Shiba Inu ($SHIB)especially.
Uphold cited Canada’s cryptocurrency compliance as the driving force behind this move, aligning it with the Ontario Securities Commission’s regulations. Tier 3 tokens must be removed during the registration process.
🙌 I support several delistings
Canada’s Assets 🤔 pic.twitter.com/ca0vUf53Qb— BullishLife (@galtcoin432) December 17, 2023
Delisting of major Canadian cryptocurrencies
The announcement details the impending removal of cryptocurrencies including XDC Network ($XDC), Stellar ($XLM), Injective ($INJ), Hedera ($HBAR), Terra Classic ($LUNA), and Solana-based meme coin $ became. In addition to the major tokens mentioned earlier, BONK. Uphold users in Canada who hold these affected cryptocurrencies will have 30 days to withdraw them or convert them to other assets supported on the platform.
Uphold’s continued support for XRP
Interestingly, the delisting wave did not extend to XRP, the native token of the XRP Ledger, reinforcing Uphold’s continued support for it. Uphold is committed to XRP, recently conducting a sizable token airdrop for eligible users. The platform’s proactive stance on XRP has been consistent, especially considering the token was delisted from various exchanges after the U.S. Securities and Exchange Commission filed a lawsuit against Ripple Labs in 2020.
Uphold took to social media to reiterate its stance on XRP and responded to users’ appeals to relist XRP. Uphold assured users that XRP will continue to be listed on its platform and reaffirmed its commitment to maintain XRP’s listing until the SEC lawsuit is resolved, determining the token’s regulatory classification.
The recent delisting announcement highlights Uphold’s determination to comply with evolving regulatory standards while remaining loyal to cryptocurrency choices like XRP.
disclaimer
The opinions expressed in this article are for information purposes only and do not constitute financial advice. Investing in cryptocurrency carries the risk of financial loss and should be approached with caution.