Dog-themed cryptocurrency Shiba Inu (SHIB) and a few major cryptocurrencies face delisting on Canada's subsidiary of multiasset digital money platform Uphold.
In an earlier announcement in December, Uphold gave the reason for the delisting: "After careful consideration and in line with the pre-registration undertaking that we have entered into with the Ontario Securities Commission as part of the process of obtaining appropriate registration in Canada, we have decided to no longer support the following assets."
SHIB, XDC, KAS, DOGE, CSPR, HBAR, XLM, ADA, INJ and VET are among the tier-3 assets delisted. While deposits of the said assets ceased immediately, trading of the assets was extended with a deadline date of today, Jan. 15.
According to the announcement, trading or swapping the above assets would cease on Jan. 15, 2024, at 11:59 p.m. UTC (7:59 p.m. EDT).
SHIB, as well as other crypto asset holders, should pay attention to the Jan. 15 deadline, as any delisted assets left in users' wallets will be immediately converted into CAD at the mid-market rate at the time of liquidation.
SHIB scores new exchange listing
In what might seem like an irony of fate, Shiba Inu scored a new exchange listing on the same day its trading would cease on Uphold Canada.
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 locations supported by EarnBit. Users can also buy, sell or swap SHIB on the platform.
At the time of writing, SHIB was down 1.95% in the last 24 hours to $0.0000096.