Cryptocurrency exchange Uphold has notified its Canadian users that it is delisting ten cryptocurrencies to comply with the Ontario Securities Commission's requirements. Uphold sent a letter to its clients in Canada listing the assets that will be delisted, including Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), XDC Network (XDC), Stellar (XLM), Injective (INJ), Hedera (HBAR), Terra Classic (LUNC), meme coin BONK based on Solana, and KAS tokens.
Canadian clients holding these crypto assets can withdraw them from the platform by January 15 or convert them into other supported Uphold cryptocurrencies. Otherwise, the assets will be automatically converted into Canadian dollars. Uphold is working towards obtaining registration in Canada and aims to meet the requirements of the Ontario Securities Commission.
While Uphold has delisted ten altcoins on its exchange, it has not affected major cryptocurrencies like BTC, ETH, and XRP. Uphold continues to be known for its support of XRP, and a few years ago, it introduced a Mastercard debit card with cryptocurrency cashback in Ripple.
In March, in response to user complaints demanding the return of trading pairs with XRP, Uphold's management emphasized that XRP had always remained on the exchange and was never delisted. While many other exchanges suspended XRP trading after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in 2020, alleging that XRP was an unregistered security.
Recently, the KuCoin exchange also conducted a delisting of ten altcoins to comply with regulatory requirements. In October, the largest U.S. cryptocurrency exchange, Coinbase, announced its intention to delist 80 trading pairs with the aim of consolidating liquidity.
