Bitcoin
BTC$23 377.12

-4.18%

Ethereum
ETH$1 842.25

-5.57%

Tether
USDT$1.000068

0%

USD Coin
USDC$0.999915

-0.01%

Binance Coin
BNB$306.80

-4.80%

XRP
XRP$0.374134

-3.28%

Poloniex plans to delist 9 tokens


20 May 2019

Crypto Regulations: Poloniex plans to remove 9 cryptocurrencies tokens due to SEC


SEC’s regulatory actions against unregistered tokens are causing an uproar in the US crypto industry. Nine of the tokens will no longer appear on the Poloniex platform, including DCR.

 The crypto exchange based in the United States has announced that nine tokens will not be available on their platform.

This action was as a result of the rumors flying about SEC’s move against unregistered tokens. Many traders in the US are lamenting over these developments as they have lost nine tokens which they usually trade.  Meanwhile, there is diverse opinion as to whether the crypto tokens should be affected by the upcoming securities regulations.

Poloniex announces its move to delist nine tokens


Poloniex’s announcement about delisting nine crypto tokens came as a shock on Thursday, 16, May 2019. We think they are taking a proactive step to prepare for SEC actions. According to reports, the exchange has doubts about the capability of the nine tokens to survive the SEC’s scrutiny. The result is that the exchange is depriving its customers in the US the options to trade on diverse tokens. From what we gathered, the nine tokens include BCN, GAS, ARDR, GAME, OMNI, DCR, LSK, NXT, and REP. These cryptos will not be accessible to US customers starting from the 29th of May. However, customers who trade outside the United States will have access to all the assets.

Also, we learned that the traders in the US can still withdraw their assets from the exchange. That is as long as these assets are still on the platform.  

Reactions against the delisting


Already, US traders are not happy about these actions which the exchange is taking. However, other big shots in the industry are also frustrated by this recent development. Take, for instance, the Circle Chief Executive Officer, Jeremy Allair, has expressed his frustrations at such decisions by the exchange. However, he blames it all on the restrictive crypto regulations coming up from SEC in the US. Let’s recall that Circle acquired the exchange in 2018. So, this action is a cause for concern to them.

Is Allaire the only one condemning the U.S crypto regulatory policies regarding ICOs as securities? The answer is no. Some United States Congressmen are making moves to pass an Act against these upcoming actions.  The “Token Taxonomy Act” would exclude cryptocurrency tokens from being part of the securities that will face the regulations.

Crypto Tokens in The United States Are Facing SEC Actions


Although the Congressmen wants to remove Crypto tokens from being securities, the Commission is insisting otherwise. According to the SEC, most of the ICOs in the US are securities.

Even though we are expecting a change of plans, the commission has gone ahead to carry out their attacks. Right now, many unregistered ICOs have been fined and some arrested by SEC depending on the case against them.  We are also getting reports that there will be a terrible attack on more unlicensed ICOs soon.

These events are getting mixed reactions from the crypto community. While some argue that it will affect many exchanges decisions and strategies, others lament about the regulations affecting trading options. However, Bitcoin continues to win the hearts of institutions and individual traders.

Author: Ali Raza for: Crypto-Rating.com

Related

Bitcoin, Ethereum corridor and new dog race?
Bitcoin, Ethereum corridor and new dog race?
August 26: a Terrible Day on the Calendar
August 26: a Terrible Day on the Calendar
ETH devs move up the date for Merge
ETH devs move up the date for Merge
AMarkets Adds 5 New Cryptocurrencies
AMarkets Adds 5 New Cryptocurrencies
Bitcoin seeks support
Bitcoin seeks support
Axie Infinity looking to ‘double-down’ on Korean market
Axie Infinity looking to ‘double-down’ on Korean market
Influencers Talk about a Very Long Crypto Spring
Influencers Talk about a Very Long Crypto Spring
Bitcoin's bullish stability
Bitcoin's bullish stability
Bitcoin remains in ascending corridor
Bitcoin remains in ascending corridor

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 88.8% 13 $23 377.12 -4.18% -4.83% $447 075 937 480 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 68.4% 57 $1 842.25 -5.57% -2.51% $224 771 545 069 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $1.000068 0% -0.03% $67 570 562 281 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $0.999915 -0.01% 0.01% $53 159 903 576 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 66% 64 $306.80 -4.80% -7.81% $49 498 485 536 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 92% 11 $0.374134 -3.28% -1.89% $18 473 812 799 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 94% 1 $1.000141 0.01% 0.02% $18 288 013 118 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 79.6% 30 $0.536096 -6.82% -1.61% $18 191 903 489 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 78% 33 $40.80 -8.29% -8.88% $14 232 149 113 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 83.2% 28 $0.081156 -7.02% 12.66% $10 767 081 650 DOGE 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 HEX (HEX) HEX HEX predictions 68% 66 $0.058867 -5.25% -5.51% $10 208 131 428 HEX 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 72.4% 54 $8.44 -7.64% -10.97% $9 351 379 972 DOT 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78% 45 $0.000015 -8.13% 18.92% $8 164 105 683 SHIB 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 69.6% 63 $25.73 -8.40% -14.00% $7 332 766 147 AVAX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.