Coinbase, the leading cryptocurrency exchange based in the United States, has declared its decision to delist Status (SNT), effective
Coinbase, renowned for its stringent asset review processes, has communicated through a recent tweet its intention to halt trading for Status (SNT) on its platform.
The suspension is scheduled to commence at approximately. ET. This move comes as a result of a comprehensive assessment conducted by Coinbase, aimed at ensuring that listed assets meet the platform’s stringent criteria.
Coinbase reasons behind the delisting
Coinbase has emphasized its commitment to maintaining the integrity and quality of assets available on its exchange. Through ongoing reviews, the platform seeks to guarantee compliance with its listing standards.
The decision to delist Status (SNT) reflects Coinbase’s dedication to providing a secure and reliable trading environment for its users. Status (SNT) is currently accessible on other prominent exchanges such as Binance, OKX, and Upbit, as reported by Wu Blockchain.
Trading restrictions and implications
In light of the delisting announcement, Coinbase has initiated restrictions on the Status (SNT) order books. These restrictions confine trading activities to limit-only mode, permitting users to place and cancel limit orders while enabling order matches.
Such measures are implemented to facilitate an orderly transition and mitigate potential market disruptions.
Previous delistings and Coinbase’s compliance efforts
This recent delisting of Status (SNT) follows Coinbase’s earlier decision to deprecate support for Bitcoin SV (BSV). Additionally, the exchange has disabled trading for several other cryptocurrencies, including Aragon (ANT), ATA, DREP, MONA, and SYLO.
These actions underscore Coinbase’s unwavering commitment to regulatory compliance and risk management within the rapidly evolving cryptocurrency landscape
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