New Delisting in sight
The Canadian cryptocurrency exchange Bitbuy has announced that it will remove XRP from its lists starting from January 13, 2022. In this regard, Bitbuy has announced to its users that, as of that date, “they will no longer be able to trade on the XRP markets / CAD or XRP / BTC and will no longer be allowed to make new XRP deposits to the account wallet. “
Bitbuy is urging users to withdraw any remaining tokens before the delisting takes place. After January 13, 2022, it will still be possible to withdraw its holdings in XRP “for an additional period of 30 days”. However, no trading will be allowed anymore and XRP will be replaced in the price lists with “other cryptocurrencies”, for the moment not better specified.
Anyone who has followed suit over the past year will not be surprised by Bitbuy’s initiative. The delisting was dictated by the new regulatory requirements for cryptocurrency platforms currently in place in Canada. According to the regulation (Section 20 of the Ontario Securities Commission), it is up to exchanges to “apply policies and procedures to determine whether a cryptographic asset is a security and / or a derivative.”
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