Popular Altcoin Crypto Exchange Cryptopia Delists Over 70 Tokens In November Already
In a recent tweet made on Thursday, November 8, crypto exchange, Cryptopia revealed that the team is undergoing the necessary processes to assess coins and see whether they should be delisted or not. A link has also been provided in which the date of delisting announced, and the official delisting dates have been provided.
The process for some of our coins that were due to be delisted today has been extended. We will provide you with an update soon on this. Check here for the latest information: https://t.co/3bFYfrbx08
— Cryptopia Exchange (@Cryptopia_NZ) November 9, 2018
After scrolling through the list of delisted coins, the team seems to have delisted 69 coins on November 9, a month after giving a notice. As per the claims made, the reason for doing so supposedly stems from the fact that the, “coins did not comply with [their] Listing Policy,” adding that the team was careful in choosing coins that only pose a risk to users.
A Quick Look At Cryptopia’s Delisting Policy
Cryptopia requires coins to meet the following criteria at the time of their listing, which includes:
- A list of team members
- Public and safe source code
- A working block explorer
- Whitepaper explaining the usefulness of the coin
- Road map along indicating milestones attained
- A functioning website
- Coins should not be deemed a “financial product”
- Positive community feedback and participation
Given that any of these points are violated, along with lack of compliance by regulation, Cryptopia reserves the right to delist said tokens. Clearly, nearly 95% of Cryptopia’s token listing have since been removed. This only goes to show that Cryptopia is serious about supporting strong projects that reflect progress and are ensuring that their users do not find themselves at risk of losing their funds or falling into the traps of scam projects.