Dog-themed cryptocurrency Shiba Inu (SHIB) and some major cryptocurrencies are facing delisting from the Canadian subsidiary of multi-asset digital money platform Uphold.
Dog-themed cryptocurrency Shiba Inu (SHIB) and some major cryptocurrencies are facing delisting from the Canadian subsidiary of multi-asset digital money platform Uphold.
In a previous announcement in December, Uphold gave the reason for the delisting: “After careful consideration and in accordance with the pre-registration commitment we have made to the Ontario Securities Commission as part of the process of obtaining registration suitable in Canada, We have decided to stop supporting the following assets.”
SHIB, XDC, KAS, DOGE, CSPR, HBAR, XLM, ADA, INJ, and VET are among the Level 3 assets delisted. While deposits of such assets ceased immediately, trading in the assets was extended until today’s deadline, January 15.
According to the announcement, trading or exchange of the above assets would cease on January 15, 2024 at 11:59 pm UTC (7:59 pm EDT).
SHIB, as well as other crypto asset holders, should pay attention to the January 15 deadline, as any delisted assets remaining in users’ wallets will immediately be converted to CAD at the mid-market exchange rate in the time of liquidation.
SHIB gets new stock market listing
In what might seem like an irony of fate, Shiba Inu obtained a new stock listing on the same day that trading on Uphold Canada would cease.
EarnBit, a new trading platform, has announced that Shiba Inu is now available on its platform. The listing move allows SHIB to be accepted for payments at EarnBit supported locations. Users can also buy, sell or exchange SHIB on the platform.
At the time of writing, SHIB was down 1.95% in the last 24 hours to $0.0000096.
