KuCoin to review and adjust crypto classification in August
KuCoin to review and adjust crypto classification in August
KuCoin, a leading global cryptocurrency exchange, is set to undertake a comprehensive review and reclassification of wide range of cryptocurrencies on its platform.
The announced review, which will begin on August 16, 2024 and continue through September 15, 2024, aims to re-evaluate the listed tokens against a number of critical criteria to ensure that the platform remains aligned with evolving market conditions and maintains its commitment to a safe, secure and transparent trading environment.
The criteria for this reclassification include evaluating the commitment of project teams, the quality and level of development activity, trading volume, liquidity, and network stability. Additionally, KuCoin will assess the security of networks and smart contracts, the level of public communication from project teams, and their responsiveness to due diligence requests. The review will also consider any evidence of unethical or fraudulent conduct and the project’s overall contribution to a sustainable crypto ecosystem.
As part of this process, KuCoin has announced the first batch of tokens that will be reclassified:
- GNS, STG, RDNT, MASK, PUNDIX, AA, BFC, PMON, REV3L, SPOT, VEMP, BONDLY, LYM, GRAIL, DPET, XTM, VERSE, TXA, UQC, SWASH, WHALE, POL, SRBP, ZEE, MJT, FSN, XTAG, EQX, ROUP, FRM, STND, SOLS, ROOBEE, NFT, TSUGT, PEL, TIDAL, FEAR, ORBS, SIMP, DOSE, CTC, ORCA, TRIBL, INFRA, LSS, NORD, LAYER, NYM, and SMOLE.
The adjustment of above assets is scheduled to take effect between 8:00 and 8:10 (UTC) on August 16, 2024.
KuCoin has indicated that the results of these adjustments will be reflected on the exchange’s [Fees & VIP] page, providing users with updated information on the status and classification of the affected tokens. The exchange has urged its users to make any necessary arrangements in advance and has expressed its apologies for any inconvenience caused by these changes.
By periodically reviewing and adjusting the status of listed tokens, KuCoin aims to enhance the trading experience for its users and ensure that the assets available on its platform meet the highest standards of security, transparency, and sustainability.
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