Kucoin delists Binance BUSD

Leading cryptocurrency exchange Kucoin delists Binance BUSD.

In an announcement today 27th September 2023 leading cryptocurrency exchange Kucoin has announced it will delist Binance BUSD

As per the Speacial treatment rules of Kucoin, Binance BUSD has been disqualified and will be removed from the platform. Together with $MOOV and $AFK trading will cease at 06:45 (UTC) on September 28th and the tokens will be delisted at 07:00 (UTC) on September 28th.

Criteria for delisting cryptocurrency on Binance

Kucoin’s special treatment program contains 13 reasons as to why tokens can be delisted and includes the following points:

7）The project is on the verge of insolvency, order, or proceeding for liquidation, bankruptcy, or similar is taken, made, commenced against, or about the above or any material part of its assets.

（8）The project is suspected of malicious attempts or behaviors of any type.

（9）The project or its team members (including but not limited to founders) or consultants are under investigation for a suspected breach of or are convicted for an actual violation of any applicable laws, statutes, and regulations.

（10）The project carries out market misconduct such as wash trading, market manipulation, or insider trading.

A full breakdown of the legal note can be found on Kucoin

Full details of Delisting of Binance BUSD on Kucoin

The delisting process are as follow:

1. The KuCoin Trading Bots will cease operations at 06:45:00 on September 28, 2023 (UTC), including Spot Grid, Infinity Grid, DCA, Smart Rebalance, Martingale, and Spot Grid AI Plus.

2. The abovementioned trading pairs will be delisted at 07:00:00 on September 28, 2023 (UTC). For better management of your funds, we recommend that you cancel your pending orders of the relative project as soon as possible.

3. The deposit service of the above mentioned projects shall remain closed.

4. The withdrawal service for BUSD will be closed at 10:00:00 on December 8, 2023 (UTC). Please make your withdraw on or before the closing date.

5. The withdrawal service for the MOOV and AFK projects will be closed at 10:00:00 on March 28, 2024 (UTC).

6. If you are currently holding the relevant tokens, please make your withdrawal on or before the respective projects closing date. If you did not withdraw the funds within the specified time period, you are deemed to have given up the funds and will have no rights to claim back the funds or any other equally valued products from KuCoin.

7. Please also note that during this period, if withdrawal fails due to the project’s actions, including but not limited to stop of the function of on-chain activities like block generating and on-chain fund transfer, KuCoin will close the withdrawal service accordingly, and will NOT be able to cover users’ losses. Thus, please make the withdrawal at your earliest convenience.

8. To avoid any potential losses, we highly recommend that you watch for updates in the KuCoin Delistings special page. You may also find the planned closing times for trading, deposits, and withdrawals of all delisted tokens apart from the announcements.

We sincerely appreciate your support and understanding.

Regards,

The KuCoin Team

Delisting of cryptocurrencies on exchanges

From time to time cryptocurrency exchanges delist tokens from their platforms. Primarily the delistings will occur due to lack of trading volume over extended periods of time.

Delistings also occur when a token has rugged or if the owners of the token are displaying erratic or illegal behaviour.

It begs the question we have asked many times, when will a cryptocurrency exchange delist Tether $USDT

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