In a notable development within the cryptocurrency landscape, South Korean exchange Bithumb has decided to delist the Bonfida FIDA token, effective February 23, 2025. This decision underscores the critical role of regulatory compliance in the rapidly evolving crypto market, as highlighted by the insights provided in the publication.
Delisting Announcement
The delisting comes after the Bonfida Foundation failed to provide essential documentation following an investment warning issued by Bithumb. The exchange conducted a thorough review and determined that the FIDA project no longer meets the necessary criteria for continued trading support.
Impact on FIDA Token
As part of the delisting process, Bithumb will suspend deposits for the FIDA token on February 20, 2025. Trading and withdrawal services for FIDA will cease on the official delisting date. This move serves as a reminder of the stringent compliance requirements that cryptocurrency projects must adhere to in South Korea's regulatory environment.
In a recent announcement, Bithumb has temporarily suspended all deposit and withdrawal services for Merlin Chain (MERL) as part of a network upgrade. This decision contrasts with their earlier move to delist the Bonfida FIDA token. For more details, see read more.
